Newell Trustees Limited v Newell Rubbermaid UK Services Limited & Anor

Newell Trustees Limited v Newell Rubbermaid UK Services Limited & Anor

The 1992 Deed validly established the money purchase section and effected the transfer and conversion of members’ final salary benefits to money purchase benefits, subject to an underpin preserving the final pensionable salary link as required by the Proviso. The conversion itself did not breach the Proviso, but the transfer sums must be augmented if actual salary increases and final pensionable salary would have resulted in higher accrued benefits. There is no rule in the Scheme obliging the Trustee to discriminate on grounds of age; therefore, no unlawful age discrimination has occurred or will occur under s.61 Equality Act 2010.

Parties
Claimant: Newell Trustees Limited; First Defendant: Newell Rubbermaid UK Services Limited; Second Defendant: Ian Lawrence Putland
Jurisdiction
England and Wales
Judgment Date
11 October 2024
Procedural Posture
Part 8 Claim (directions Re Pension Scheme) / Final Judgment
Outcome
Claim for directions determined; Company’s position upheld; RB’s claims largely dismissed.
Legal Topics
Power of Amendment, Age Discrimination, Final Salary Underpin, Conversion of Benefits, Consent Requirements, Extrinsic Contracts, Retrospective Effect, Forfeiture, Interest on Arrears
Pensions Trusts Employment Equality Power of Amendment Age Discrimination Final Salary Underpin Conversion of Benefits +5 more

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Parties

Newell Trustees Limited

Claimant

Newell Rubbermaid UK Services Limited

First Defendant

Ian Lawrence Putland

Second Defendant

Procedural Posture

Part 8 Claim (directions Re Pension Scheme) / Final Judgment

Legal Issues

  1. 1 Validity of 1992 Deed establishing money purchase section
  2. 2 Effectiveness of 1993 Deed and retrospective operation
  3. 3 Consent of members to conversion

Ratio Decidendi

The 1992 Deed validly established the money purchase section and effected the transfer and conversion of members’ final salary benefits to money purchase benefits, subject to an underpin preserving the final pensionable salary link as required by the Proviso. The conversion itself did not breach the Proviso, but the transfer sums must be augmented if actual salary increases and final pensionable salary would have resulted in higher accrued benefits. There is no rule in the Scheme obliging the Trustee to discriminate on grounds of age; therefore, no unlawful age discrimination has occurred or will occur under s.61 Equality Act 2010.

Court Disposition

Claim for directions determined; Company’s position upheld; RB’s claims largely dismissed.

Orders

  • Declaration that 1992 Deed validly established money purchase section and effected transfer/conversion.
  • Final salary underpin to be applied to transfer sums for Under 40s and 40-44s if actual salary increases/final pensionable salary would have resulted in higher accrued benefits.