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.

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