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13, 2023), the court granted a motion to dismiss a pension plan participant’s claim that the plan was equitably estopped from recouping overpaid plan benefits. Upon termination of his employment, the participant requested and received from the plan a disclosure estimating that his pension would be $6,225.24
Credit: Natata/Shutterstock Need to know: The abolition of the pensions lifetime allowance in April will require an overhaul of employee communications, and a revaluation of pension scheme design and administration, including opportunities to simplify the scheme and reduce the cost of running it.
The Court of Appeal has upheld the High Court’s ruling that a written actuarial confirmation was required where an alteration to the Virgin Media scheme’s rules affected pensionbenefits for past or future service benefits.
To forestall this eventuality, the majority of North American workers’ compensation jurisdictions adjust periodic payments (sometimes called workers’ compensation pensions or permanent disability payments) to account for increases in the cost of living. Social Security payments always reflect the benefits due for the preceding month.)
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