High Court rules on pensions documents

Two recent cases, involving the Honda and ICM Computers Pension Schemes, have demonstrated different aspects of the court's approach when applying commercial principles to historical pensions documents.

The issue in the first case, involving the Honda Group UK Pension Scheme (Honda) , had a £47m price tag attaching to it (or £70m if the liabilities in contention were calculated on the buy-out basis). The values in the second case, involving the ICM Computer Group Pension Scheme (ICM), were not disclosed in the reported judgment, but since the case concerned that familiar issue – had sex equalisation been properly implemented? – we can be pretty certain that the amounts at stake were not insignificant.

Though the facts differ between the two cases the judgments highlight the importance of understanding what your pension liabilities actually are.

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