Law Soc pressed for £20m to plug pensions blackhole
Trustees push for action on £50m hole amid Clementi fears; PC hike looms
Trustees for the Law Society’s pension fund have asked for a £20m cash injection to help plug an estimated £50m funding gap amid fears that Chancery Lane could soon lose its powers to fund the scheme with the practising certificate.Legal Week has learned that the chairman of the pension fund’s trustee board, John Hayes, has written to Law Society chief executive Janet Paraskeva calling for the society to make the £20m payment this year and provide security for the remaining shortfall.
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