Loss adjuster in negotiations with trustees over multi-million pound pension deficit.
Three former senior staffers are set to meet loss adjuster GAB Robins in court this month over disputed bonus payments from 2006, the year they left the firm.
Former chief operating officer Trevor Latimer, customer services manager Graham Smart and a third member of staff have taken their former employer to court over the non-payment of bonuses believed to run into tens of thousands of pounds.
Latimer and Smart both currently work for MYI loss adjusters. They declined to comment.
The case is set to be heard in Leeds county court later this month. It comes as GAB Robins faces the latest negotiations over a multi-million pound deficit in its pension scheme. It has been making monthly payments to the scheme since 2004, when a deficit of £34m was identified.
According to the original agreement, the firm should have been paying £312,500 per month into the scheme. However the company has asked the trustees to reconsider that figure, saying its financial position has not improved as much as it had hoped.
GAB Robins is thought to be willing to pay around £205,000 per month into the pension scheme. While it has been negotiating with the trustees since the beginning of 2008, it has been paying an interim sum of £175,000 per month.
In a letter to members of the pension scheme dated April 17, Ruth Saunders, secretary of the trustees, wrote: “The trustees are examining whether this amount is reasonable, and the Pensions Regulator has been notified and is updated on the progress at least once a month. Members will be advised if and when there is any change to this arrangement or to the amounts received by the scheme each month.”
GAB Robins chief executive Kieran Rigby said: “The company continues to make contributions to the fund and has contributed close to £13m over the past three years. Negotiations are ongoing with the trustees as to the future level of contributions to the scheme and the company continues to support the fund during this process.
“This is not an issue of financial difficulty but simply a case of ensuring continued investment in our business while also supporting the fund to a reasonable level.
“Our investment programmes include the recent launch of a new workflow system and digital working environment, and the launch of two new service lines, all of which contribute to our growth and positive trading position.”
