PensionsMonday 14 August 2023
On 28 July 2023, Mr Justice Adam Johnson handed down judgment in British Broadcasting Corporation v BBC Pension Trust Ltd [2023] EWHC 1965 (Ch).
Michael Tennet KC and Edward Sawyer acted for the BBC, instructed by PricewaterhouseCoopers LLP.
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 found that it prevented the power from being used to change future service benefits and/or member contributions for Active Members unless certain conditions were satisfied. However, the Court accepted the BBC’s submission that if the specified conditions were satisfied, then the use of the scheme amendment power in that way would not involve a breach of the proper purpose doctrine.
Further details are available in a case note written by Joseph Steadman, first published on pensionsbarrister.com, available to read here: Fetters on pension scheme amendment powers.
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