PracticeAccounting FirmsKPMG pension dispute in court this week

KPMG pension dispute in court this week

A dispute over KPMG's pension fund will go to the High Court on Wednesday where the Big Four firm hopes to clarify its responsibilities for an estimated £60m deficit.

Link: ‘No pension conflict of interest’ at KPMG

The court hearing will decide whether the pension scheme is a final salary scheme or a money purchase scheme.

If the judge rules the scheme is final salary the firm could be forced to make good the shortfall.

The shortfall has long been contested by the firm.

Last year Accountancy Age reported that members could see their benefits slashed by as much as 20% if the firm does not make up the shortfall.

In January last year the trustees of the pension fund were changed from Capita to Aon Trust Corporation.

Related Articles

LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

16h Fergus Payne, Lewis Silkin
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

7d Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

1w Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

2w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

2w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

2w Emma Smith, Managing Editor
RSM announces two partner promotions

Accounting Firms RSM announces two partner promotions

3w Emma Smith, Managing Editor