Judgment handed down in Avon Cosmetics v Dalriada Trustees and ors

The Avon Cosmetics case is the latest word from the High Court on the conditions required for saving a pension scheme amendment that is partially invalid due to failing to comply with the scheme’s amendment power. It confirms the requirement to consider whether the parties to the amendment would have entered into it had they known of the true scope of the amendment power, but emphasises that that involves an objective rather than a subjective investigation.

Paul Newman KC acted for the trustees, instructed by Blake Morgan.

Read the full judgment

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