<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.

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Comments
dahowlett's picture

£12,500 each?

dahowlett | | Permalink

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