Update on the TPT Benefit Review, including implications for the 2025 year end

Potential impact on employers with TPT DB schemes

In 2021 The Pensions Trust (TPT) confirmed that there was uncertainty about the way in which some changes to TPT pension schemes had been implemented, and that they had been advised to apply to the Court to obtain some clarity.

Four years, and an awful lot of work later, the date of that hearing is scheduled for February 2025, with a ruling expected in the summer. This ruling has the potential to have a material impact on any employer that participates in a TPT defined benefit scheme.

During this webinar, Richard Soldan and Mike Richardson from LCP’s not-for-profit practice will:

• Set out the background to the issues.
• Explain the possible impact on employers and staff, including the potential timing of any contribution increases, and the steps an employer might wish to take if the case has an adverse outcome.
• Discuss the implications of another recent court ruling (the Virgin Media case), which emerged last summer and which is also being looked at as part of the TPT case. This could potentially also lead to additional liabilities.
• Highlight potential strategic options in light of the current uncertainty.
• Analyse the possible accounting impact of any changes, which is likely to affect the process for any employers with a March 2025 year end.

Who should attend

The webinar is suitable for anyone from an employer that is affected by the TPT benefit review, including pensions managers, finance, HR and directors.