How the Barber judgement works
Following May 17, 1990, pension schemes had to set a date for equalisation and until that date came into effect, pension rights were gradually levelled up, in what it was called the Barber window.
This meant that disadvantaged members were entitled to more favourable treatment, which generally meant that male members were entitled to a lower retirement age.
Historic £250mn advice bill
Friends Provident was a life company that became part of Friends Life, which was then bought by Aviva in 2015.
The firm has already cost Aviva more than £250mn to address historic advice its tied agents and appointed representative gave between 1994 and 2002 relating to direct benefit pensions.
In March 2019, the provider said it was able to reduce the number of Friends Provident customers which might have received unsuitable advice relating to defined benefit transfers from 4,000 to 2,300 clients.
ruby.hinchliffe@ft.com
