Jurisdiction(s):
United Kingdom

Key definition

COMP definition

What does COMP mean? In pensions practice, COMP refers to a contracted-out money purchase occupational pension scheme that enabled members to contract out of SERPS/State Second Pension and build defined contribution benefits in the scheme. The expression is widely used by practitioners; “contracted-out money purchase scheme” was provided for in legislation, including the Pension Schemes Act 1993 (and the Pension Schemes (Northern Ireland) Act 1993) and the Contracting-out (money Purchase) Regulations 1997. Key features included: a contracting-out certificate; National Insurance rebates paid by HMRC/NICO into members’ pots (rather than reduced NI rates); benefits classified as protected rights with special rules on investment, survivor...

EU Candle Waxes cartel appeals: 2014 General Court judgments mostly dismiss actions; Eni fine reduced after recidivism uplift removed; parent not liable for subsidiaries' past infringements absent addressee status

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED – this hub reflects the position as at the judgment of 12 December 2014 and is no longer maintained. See further: timeline, commentary and related/relevant cases

Case facts Outline

Applications were brought before the General Court seeking annulment, partial annulment and/or reductions in the individual fines arising from the Commission decision of 1 October 2008, which found infringements of Article 101 TFEU and Article 53 of the EEA Agreement...
The decision levied combined fines of €676m on nine Company groups for alleged participation in a price‑fixing and market/customer allocation Cartel relating to the supply of paraffin waxes in the European Economic Area (EEA) and slack wax in Germany between 1992 and 2005 (the ‘Candle waxes’ cartel)...
On 12 December 2014, the General Court reduced the penalty imposed on Eni, while dismissing all other actions in their entirety...

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Web page updated on 27/05/2026

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