BBC v BBC Pension Trust Limited & Anor
The word 'interests' in Rule 19.2(3) is a deliberately broad and open-textured term that, in context, includes not only rights earned by past service but also the linkage of those rights to final salary and the ability of Active Members to accrue future service benefits under the scheme as it stands before amendment. Any amendment that affects these interests engages the protection of the proviso, requiring either actuarial certification, provision of substantially equivalent benefits, or approval by Active Members as a class.
Source excerpt
- Interpretation of pension scheme rules
- Power of amendment in pension schemes
- Protection of members' interests
- Statutory restrictions on pension amendments