Pension Trustees Win Appeal To Cap Annual Increases

Law360, London (January 14, 2019, 3:32 PM GMT) -- A London judge ruled on Monday that three members of a pension plan owned by Coats Group, an industrial thread and zip maker, are not entitled to an annual five percent increase to their investment pots, overturning two decisions by the deputy pensions ombudsman.

High Court Judge Paul Morgan allowed the appeal by Coats U.K. Pension Scheme Trustees Ltd. and held that the scheme had validly updated deeds underpinning the plan that preserved an earlier, lower three percent increase to the value of investments.

“I will allow the appeal against the decision of the ombudsman on the ground that, contrary to her...

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