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ARTICLE · 26 JUNE 2013

The IBM Judgment – An Update

Wedlake Bell LLP
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Following on from our previous article covering the High Court's October 2012 decision in IBM United Kingdom Pensions Trust Limited v IBM United Kingdom Holdings Limited & ors we bring you an update on the latest decision given by Mr Justice Warren on 13 December 2012 of the same name.

United KingdomEmployment and HR
Marcus Kealey
Marcus Kealey

Following on from our previous article covering the High Court's October 2012 decision in IBM United Kingdom Pensions Trust Limited v IBM United Kingdom Holdings Limited & ors we bring you an update on the latest decision given by Mr Justice Warren on 13 December 2012 of the same name.

First IBM Case

You will recall that in the October case the IBM Trustee sought correction of various deeds and rules governing the "C Plan", a defined benefit sub-section of the IBM Pension Plan. The IBM Trustee applied for rectification of the 1983 rules in relation to both active and deferred members' rights to retire on an unreduced pension without employer consent from age 60. Warren J granted rectification in respect of the active members but found no intention that the deferred members should enjoy equivalent rights. Therefore, deferred members pensions would only be payable from age 63 unreduced and without employer consent.

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