Pension increases: “Any other rate” means “any other rate”
By EsqSocial Corporation 22/06/21
Reminding us of the importance of the literal meaning of the words, the Court of Appeal interpreted the phrase “any other rate” in a pension increases rule to mean simply “any other rate, whether higher or lower”. It overruled the High Court’s decision that “any other rate” meant “any higher rate” which had been made “with an eye to giving reasonable and practical effect to the scheme”....
By: Allen & Overy LLP