The Airways Pension Scheme (APS) trustees were "entirely reasonable" when including £55m annual recovery payments and a £250m contingent payment in their discretionary increase framework, their lawyer has said.
Airways Pension Scheme (APS) trustees did not intend to hardwire Retail Price Index (RPI) during a test for awarding discretionary increases, a trustee has told the High Court.
Member-nominated trustees (MNTs) of the Airways Pension Scheme (APS) became more flexible and mature as time progressed, a fellow trustee has called.
It was not legally risky for the Airways Pension Scheme (APS) trustees to unilaterally amend the trust deed to give themselves a discretionary increase power, ex-adviser Anthony Arter has said.