The court hearing for the case which will determine whether TPT pension schemes (including the Social Housing Pension Scheme and the Scottish Housing Association Pension Scheme) have been administered in accordance with the rules has started this week.
This marks a major milestone in the Benefit Review, which participating employers were first made aware of in May 2021. Since those first mentions of it nearly 4 years ago, the points on which it is felt that clarification is necessary have expanded. That inevitably means that there are more questions where the court could decide against the TPT trustee, which in turn could mean increased liabilities for employers.
The outcome of the case is not likely to be issued until summer 2025, and even that decision may not mark the end of the journey as time is spent understanding the consequences of the judgment, with the TPT trustee potentially needing to commence further litigation to get clarity on how it should rectify things which have been found to have been done incorrectly.
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