n Without Prejudice - Jointly and severally liable : pension law

Volume 14, Issue 3
  • ISSN : 1681-178X



In a recent decision by the Tribunal of the Pension Funds Adjudicator the trustees of a pension fund were held jointly and severally liable for loss sustained by its members, caused by maladministration of the fund. This decision confirmed that the ultimate responsibility for the proper management of pension funds rests with the trustees, who owe a fiduciary duty to the pension fund and its members.

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