Britvic Wins Appeal For More Power To Set Pension Rates

Law360, London (June 11, 2021, 4:56 PM BST) -- Soft drinks maker Britvic PLC can apply any percentage rate of increase on employee pension plans that it chooses, an appeals court in London has ruled, overturning a decision that the company could only opt to go higher.

The Court of Appeal overturned a January 2020 decision that found the company could implement only a higher rate, backing the company's argument that it also had the power to decide to impose increases at a lower rate at any time it wanted.

The use of the words "any other rate" in the plan's rules did not naturally mean "or any higher rate" —...

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