Pension trust deeds are ‘self-contained record’
By Louisa Knox and Edwin Mustard
The Outer House decision in Trustees of the Scottish Solicitors Staff Pension Fund v Pattison & Sim & Others  CSOH 19 dealt with the validity of amendments made to a trust deed and offers up some useful general principles for interpreting pension scheme documents.
The Scottish Solicitors Staff Pension Fund provided pensions for employees of solicitors’ firms and their dependants. The trustees sought to recover outstanding employer contributions from the firm of Pattison & Sim and its two partners. The trustees argued that under the rules of the scheme, as amended, the defendants were among those liable to contribute towards meeting the deficit in the final salary scheme. The defendants denied liability and questioned whether the triple-lock amendment procedure set out in the original trust documents had been followed when introducing a new employer contribution rule.
In 1980 and in 1990, the trustees executed amending deeds, cancelling the existing rules and replacing them with new rules. The recitals to the amending deeds confirmed that the amendment provisions and conditions had been ‘duly observed and performed’. The trustees therefore maintained that the rules adopted in 1990 now governed the fund…
Click on the link below to read the rest of the Shepherd and Wedderburn briefing.
News from Shepherd and Wedderburn
News from The Lawyer
Briefings from Shepherd and Wedderburn
Shepherd and Wedderburn considers the impact of Shuter v Ford Motor Co Ltd, in which it was concluded that offering less paternity than maternity pay was lawful.
Apple has turned its eye to the internal layout of all its shops and is pursuing trademark protection for this in the EU.
Analysis from The Lawyer
With banking, personal injury and M&A all down, law firm mergers are in the bracing Scottish air