Public Service Pensions

In 2015, the government introduced a new pension scheme for all public service pensions aimed at making these pensions more sustainable and affordable.

Two claims were brought: one against the judges’ pension scheme, (McCloud) and one against the firefighters’ (Sargeant).

Our Financial Planning Team and Private Client Team worked together to provide expert evidence in both tax and financial planning which led to the successful tribunal cases both McCloud and Sargeant. The team detailed the tax consequences of the pension reforms for the claimants along with financial planning reports and, ultimately, the scheme was judged to be discriminatory as it only provided protection to older members.

The knock-on effect on these judgements will have an impact on all public sector pensions including the Police and NHS.

If you have been moved into new scheme, this now means your benefits are accrued in a different way, as such, this means for lots of members there are potential pitfalls which need to be unravelled and calculated including:

• Lifetime allowance tax (where benefits taken)
• Annual allowance tax
• Benefits already paid (for retired members)
• Benefit accrual for active and/or retiring members
• Members who have opted out may be allowed to opt back in
• Paid ill health or survivors’ pensions

Our team have in-depth knowledge and vast experience and can unravel the complications through technical analysis and opinion to reach an optimum resolution for you. Our approach to Expert Witness work echoes the values we apply to everything we do. We are thorough in getting to know you and the scope of the case, whilst recognising and maintaining the independence required of an expert in court proceedings.