Sunday, 16 August 2009

Pension Compensation

Case in Point : Defence v Cannock and others [1994] ICR 918

There are traditionally 2 approaches to pension compensation the 'simplified approach' and 'substantial loss approach'. The guidelines suggest that the substantial loss approach might be used if the claimant is unlikely to ever find another job, or a job with comparable pension benefits (or higher pay which compensates for this). It might also be used if the claimant has not yet found new employment, but is expected to do so.

The employment tribunal then needs to value all losses to retirement and beyond, before reducing the total loss by the percentage chance the claimant would not have continued to retirement in the lost career (under the principles set out in Ministry of Defence v Cannock and others [1994] ICR 918).

1 comment:

john..... said...

It is a truly regrettable state of affairs when a perfectly valid compensation claims encounters obstacles that are essentially baseless. But you must be educated about your rights and the recourse that is available to you if your claim is denied or modified in a manner that you believe to be inappropriate. Working closely with a skilled and experienced workers' compensation attorney can help you to avoid making costly procedural errors and can also ensure that you have all the information you need about your rights.

There are several different ways to proceed in the wake of a denial of benefits. In an ideal world, you should be able to expect fairness and transparency, but this is not always to be found.