The applicant sought a pension from the scheme. He claimed that the preservation of benefit rules applied. However this scheme provided for pensions to be funded from the general assets of the fund at the time when a pension came to be due. The scheme was not therefore a funded one, and the preservation of benefit rules did not apply unless the scheme was such a funded scheme.
Citations:
Times 31-Jan-2001, Gazette 01-Feb-2001
Statutes:
Jurisdiction:
England and Wales
Financial Services
Updated: 28 April 2022; Ref: scu.88894