Union Pension Services provides reports for individuals and their solicitors on the loss of earnings and pension rights following events such as an industrial accident or unfair dismissal. It is widely understood that when employees lose their job, whether through an industrial accident or unfair dismissal, it can have an adverse effect, either temporary or permanent, on their earnings and hence in many cases on their accrued and prospective pension. This problem applies as much to members of the State Earnings Related Pension Scheme as it does to those who have belonged to occupational pension schemes. In the light of such potential losses UPS will prepare formal report setting out the basis upon which any loss has been assessed and the assumptions which have been used together with an individual report setting out the detailed calculations of the loss of earnings and pension. Although UPS is responsible for its own reports the basis of calculation does need to be agreed with the claimant’s solicitor in line with current practice by the Courts or Tribunals hearing such actions. The calculations are undertaken on the basis of information provided to us by the claimant’s solicitor and they are responsible for obtaining all the information which is required. In general terms such information includes the claimant’s earnings over a reasonable period prior to the event; information about the earnings of comparators; and information about provisions of the pension arrangements which the claimant enjoyed. In practice a schedule of the required information is agreed in more detail with the solicitors concerned. Our current charge for a standard report is up to £750 plus VAT. This does not include any fee for attending a hearing to give evidence or for meeting with the claimant’s lawyers, should this prove necessary. For such additional work our standard hourly fee is £200 per hour plus VAT and any expenses incurred. Our fees are subject to revision from the beginning of 2004. The Director of UPS, Bryn Davies, is personally responsible for producing all reports on loss of earnings and pension rights. Our reports on the loss of earnings and pensions are provided solely for the purposes of litigation. No liability is accepted to any person other than the claimant. |
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