Thursday 10 April 2014

IBM Pension closure successfully challenged in court

Good news for workers seeking to defend pensions - with a High Court ruling against IBM over the closure of their final salary pension scheme to future accrual.  The core of the ruling is that the way the pension scheme was closed breached the contractual duty of trust and confidence.

The ruling is here.  There are many reports online, including from the legal team for the pension fund trustee, Professional Pensions and Employee Benefits.

IBM has already said it intends to appeal.

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