In a supplemental judgment to its 12 October 2012 judgment (see our September/October 2012 Bulletin for Pensions Managers for a summary of that judgment), the High Court has held that IBM was not required by its implied duties of trust and confidence to consent to amendment of the trust deed and rules governing the IBM Pension Plan to give effect to the preservation requirements, as they stood prior to 6 April 2005, in respect of service prior to that date. The amendment would have meant that deferred members would be able to retire without consent from age 60.


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