Report of the Duxbury Working Party
Resolution’s response to the Duxbury Working Party.
Resolution has responded to the report of the Duxbury Working Party. The Duxbury Working Party has been established to consider and discuss the competing arguments and to make recommendations for the retention or adjustment of any of the underlying assumptions, but particularly those identified as the ‘key assumptions’
This response was prepared by Resolution’s Pensions, Tax and Financial Remedies Committee. View our response in full.
Resolution welcomes the provisional Report of the Duxbury Working Party. It is a well-written document and one that demonstrates both an attempt to address concerns that have historically been raised and an acceptance that there is need to update some of the assumptions and thinking behind the tables. The explanation of the history has also been extremely helpful in understanding the context.
Resolution applauds the Working Party for extending the contributors to the report, and to seeking feedback from stakeholders. By doing so the Duxbury calculations can only be more robust, and hence more widely agreed and accepted.
Resolution invites the Working Party to publish an anonymised summary of the responses and feedback received in the final report, so that it is clear what assumptions and recommendations have received general approval, and which areas remain contentious. Bearing in mind that Duxbury is only ever a ‘tool not a rule’, it is important that judges and litigants using the figures are aware of which areas are contentious.
Resolution would support membership of the Working Party being extended even more widely in the future to ensure as wide a range of views as is realistically possible is reflected.
Resolution,
November 2024