PensionsTuesday 9 July 2024
The Court of Appeal has today handed down judgment in British Broadcasting Corporation v BBC Pension Trust Ltd [2024] EWCA Civ 767.
Michael Tennet KC and Edward Sawyer acted for the BBC, instructed by Linklaters. Brian Green KC and Joseph Steadman acted for the Trustee, instructed by Slaughter and May.
The Court considered the scope of a fetter on the scheme amendment power in the BBC pension scheme and upheld the Judge’s conclusion that it prevented the power from being used to change future service benefits for Active Members unless certain conditions were satisfied.
The judgment of Lewison LJ includes the most recent consideration at appellate level of the principles applicable to the interpretation of pension schemes.
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