Pension indexation
De La Rue scheme gains £80.5m after indexation swap
De La Rue's defined benefit (DB) pension scheme gained £80.5m after swapping the index used to revalue benefits, but lost £0.5m to rectify discrepancies identified in the scheme's rules.
BA: Trustees' actions led to 'corrosion' of role and responsibilities
Airways Pension Scheme (APS) trustees' misunderstanding of the purpose of a defined benefit (DB) scheme was not consistent with regulation and produced "absurd results", British Airways' (BA) lawyer has told the High Court.
BA trustees: Members had a reasonable expectation of RPI
Members of the Airways Pension Scheme (APS) had an expectation to receive payment increases in line with the Retail Price Index (RPI), the trustee board's lawyer has argued.
BA trustees: Leading counsel called increase amendment an 'elegant solution'
Amending scheme rules to allow for discretionary increases provided an "elegant solution" to the indexation debate, according to the Airways Pension Scheme's (APS) leading counsel.
