PSO meaning

Original news Mr S (CAS-30342–Z1B0) – 2 July 2024 Summary The PO has dismissed a complaint concerning a PSO. The PSO was correctly determined at the valuation date as a fixed percentage of the complainant’s cash equivalent transfer value. As the scheme’s unit prices fell after the valuation date, the administrators were right to cash in additional units to ensure the same monetary amount, as calculated at that date, was transferred to the ex-spouse’s pension arrangement. The PO’s decision highlights the challenges that can arise even when there is only a short delay in implementing a pension sharing order. What were the facts? Mr S was a member of the Fidelity Master Trust–Sytner Group Retirement Plan Section (the Scheme). A Pension Sharing Order (PSO) was issued against Mr S’s Scheme benefits. Section 29(2) Welfare Reform and Pensions Act 1999 (WRPA 1999) provided that: “Where the relevant order specifies a percentage value to be transferred, the appropriate amount …. is the specified percentage of the cash equivalent...

CASE HUB ARCHIVED This archived case hub records the position as at the judgment dated 8 September 2021; it is no longer maintained. For more detail, see the timeline. See further, timeline. Case facts Outline An action for annulment before the General Court challenged the European Commission’s decision of 31 October 2108, which concluded that compensation paid by Lithuania to LITGAS for delivering a mandatory volume of liquefied natural gas to the LGN terminal facility in Klaipėda complied with the applicable State aid rules (SA.44678). Latest developments On 8 September 2021, the General Court delivered its judgment, partially allowing the appeal. Specifically, it held that, when assessing the Applicants’ complaint, the Commission had ‘objective and consistent evidence of serious difficulties’ and therefore ought to have opened an in‑depth investigation. In addition, the Court determined that the examination of compensation for certain costs was ‘incomplete, insufficient and inconsistent’. Parties Applicants: Achema AB and Achema Gas Trade (together, Achema) Defendant: European...

In the Republic of Ireland, electricity is governed by network, regulatory, policy and retail frameworks that differ from those in Northern Ireland. Although the two jurisdictions share a wholesale platform—the Single Electricity Market (SEM)—all other market arrangements remain separate. For further detail on the SEM, see Practice Note: Island of Ireland Single Electricity Market (SEM)—an introduction. Key entities within the RoI electricity market The RoI electricity sector can be described as consisting of: participants active in the all-island SEM with operations based in Ireland renewable and thermal generators, and suppliers within Ireland, specifically licensed by the Commission for Regulation of Utilities (CRU) under section 14 of the Electricity Regulation Act 1999 the distribution network and related metering equipment, owned and run by ESB Networks the transmission system, owned by ESB Networks and operated by EirGrid interconnectors linked to RoI networks, including the Louth–Tandragee North–South Interconnector (NS Interconnector) and the East–West Interconnector (EWIC) end users connected to these networks, supplied by...

CASE HUB ARCHIVED — this archived case hub records the position as at the judgments of 4 March 2020 and is no longer maintained. See further: timeline and relevant/related cases. Case facts Outline Appeals against the General Court’s rulings in Cases T‑185/16 and T‑186/15, which dismissed actions seeking annulment of the Commission’s decisions in State aid Cases SA.35842 and SA.35843—PSO compensation relating to Buonotourist and CSTP Azienda della Mobilità. Latest developments On 4 March 2020, the Court of Justice delivered its judgments and dismissed the appeals in full. Parties Appellants: Buonotourist S.r.L. (Buonotourist). A privately owned provider of local public transport services operating under regional and municipal concessions. In particular, throughout the period examined it managed a network of bus routes as concessionaire for the Italian region of Campania (the Region), covering around 1.8m km per year. Consorzio Salernitano Trasporti Pubblici SpA (CSTP). A public limited liability company providing local public transport services pursuant to regional and municipal concessions...