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ARTICLE · 16 JULY 2018

What's Happening In Pensions - Issue 71

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British Airways has won its appeal against the High Court decision about the validity of decisions taken by the Airways Pension Scheme trustees.

United KingdomEmployment and HR
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IN THIS ISSUE:

  • PPF-compliant guarantees and security arrangements: The PPF rules are changing for pension schemes that have a pre-18 January 2018 guarantee in place that includes a fixed sum (ie, £x) liability cap. These have to be replaced if they are to be certified or recertified for the 2019/2020 levy year.
  • Proposed new Pensions Regulator powers: Following the recent White Paper on protecting DB pension schemes, the government is consulting on its proposals to give the Pensions Regulator greater powers in relation to corporate activity and to help the Regulator to learn about a wider range of significant events than at present, and at an earlier stage.
  • BA Court of Appeal decision: British Airways has won its appeal against the High Court decision about the validity of decisions taken by the Airways Pension Scheme trustees. Those decisions were to exercise a unilateral power of amendment to give themselves a power to award discretionary increases

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