Practice News: KPMG loses pensions case. By Louise Birkett | AccountingWEB

<b>Practice News</b>: KPMG loses pensions case. By Louise Birkett

KPMG's attempt to get its pension scheme recognised as a defined contribution scheme, rather than a defined benefit scheme, has been turned down by the House of Lords ' leaving its 550 partners to plug a £60 million deficit.

The firm was taken to court by the scheme's trustees five years ago after it said it did not have to make good the deficit because under a defined contribution scheme individual pensioners bear the investment risk.


» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.

dahowlett's picture

£12,500 each?

dahowlett | | Permalink

Err...what makes you think the contributions will be evenly spread?