Bank Lloyds Must Harmonise The Pension Scheme

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Bank Lloyds must Harmonise the Pension scheme for Men and Women. The British bank Lloyds has to adjust its pension plans to equalise the benefits for men and women.

 

The British court requires the bank to take action.

The judgment is assumed to cost Lloyds up to half a billion pounds.

The ruling may also affect thousands of other British companies.

Three female members of the pension scheme blamed the bank for discrimination on the grounds of sex,

 because their pensions would increase to a minor extent than those of their male colleagues.

Equalisation may cost Lloyds 100 million to 500 million pounds.

According to trade unions, the ruling can affect the pensions of up to 7.8 million people.

Lloyds is about 230,000 participants who were covered by the pension scheme between 1990 and 1997.

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