Apr 9, 2019
British Airways ends legal fight with pension trustees
British Airways has agreed to end a long-running court battle with the trustees of one of its pension funds over increases in payments to retired workers. The trustees of the Airways Pension Scheme, which has 24,196 members, amended the plan's rules in 2013 to give themselves the power to grant discretionary pension increases to retirees. It resulted in a long court battle between BA and the trustees which raised important legal questions, such as the extent of pension trustee powers. Under the terms of the deal, the trustees of the Airways Pension Scheme will be able to award discretionary increases, subject to some affordability tests, so that APS pensions are increased by the annual change in the RPI from 2021. A letter from the APS trustees to scheme members says that attempts to de-risk the pension scheme have had a "Significant and positive" effect on the funding of the APS scheme and have "Effectively reversed the funding deficit".
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