Employers could be forced to pay billions into their final salary pension schemes if the High Court decides that the UK's pension protection levels are inadequate, experts have warned. Dan Martin reports.
In a case brought by trade unions Amicus and Community on behalf of workers at collapsed company Allied Workers and Steel, the European Court of Justice (ECJ) ruled on Thursday that the government's measures for protecting pensioners was "inadequate".
The ECJ referred the case back to the High Court in London to decide whether those employees who lost their retirement pension savings before the establishment of the Pension Protection Fund (PPF), into which firms contribute, are entitled to more compensation.
Experts said the government's main concern will be to avoid being ordered by...