‘The High Court (Morgan J.) has delivered judgment in Punter Southall Governance Services Ltd v Hazlett [2021] EWHC 1652 (Ch), concerning the Axminster Carpets Group pension plan. It is now the leading judgment on limitation in claims by pension scheme beneficiaries for arrears. It also gives key guidance on the court’s power to award interest on such claims and on the interpretation and exercise of forfeiture clauses, and makes certain findings on the scope of s.37 of the Pension Schemes Act 1993. This summary only scratches the surface of a detailed 347-paragraph judgment covering several different areas of pensions and trusts law. A more flippant title might have been: “The Axminster Carpets case: a pile of issues…”’
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Wilberforce Chambers, 24th June 2021
Source: www.wilberforce.co.uk