Rejecting the challenge, Mr Justice Buxton said the case arose against a background of "a serious crisis of confidence" in the pensions industry caused by the mis-selling of personal plans.
Stuart Willey, head of PIA legal services, said: "This decision puts beyond doubt the lawfulness and reasonableness of the programme. We hope the decision will remove any lingering doubt there may have been and all members will now co-operate."
Nearly eight million personal pensions have been sold since April 1988, the period from when the review must start. The pensions industry is estimated to face a compensation bill of pounds 3bn.Reuse content