13 Feb Anne-Marie Winton comments in Professional Pensions on British Airways lawsuit against pension scheme trustees
The trustees of the Airways Pension Scheme will be eagerly awaiting the outcome of a four-year saga that saw their sponsoring employer British Airways suing them for awarding a 0.2% discretionary increase.
In a seven-week trial towards the end of last year, the decision-making process and mind-set of the trustees was scrutinised in excruciating detail, while lawyers battled over the concepts of ‘benevolence’, ‘prudence’, and ‘deficit’.
ARC Pensions Law partner Anne-Marie Winton commented that our understanding of trustee duties could be reshaped by the judgement:
“This was a marathon case in the High Court with more dips and dives than an episode of Sherlock. It will be interesting to see if the outcome will reshape our understanding of basic trustee duties – in particular how to look after the best interests of beneficiaries overall, and exercising powers for a proper purpose.”
Read the full article in Professional Pensions here.