H Armstrong & Associates Ltd

Chartered Accountants and Business Advisors

Case study 1 – complicated pension loss

We were instructed by the Claimant’s solicitors to calculate the loss of pension suffered by a Claimant injured in a road traffic accident.
At the time of his accident the Claimant was employed by a large multi-national corporation with its own very generous  final salary pension scheme.  As a result of his accident he was forced to leave this company and decided to become a teacher.  He joined the Teachers’ Pension Scheme, which is also a generous pension scheme although it is expected to change from a final salary to a CARE scheme (Career Average Revalued Earnings) in the next few years.
We were instructed to calculate the Claimant’s loss of pension across a range of retirement ages and earnings’ positions. These calculations assisted the Claimant solicitors greatly as they were able to easily see the effect of the change of career and retirement age on the Claimant’s pension and agree his loss of pension.

As a result of our input, this aspect of the Claimant’s claim was quickly agreed between the parties and our input was appreciated and valued by both sides.

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