National Grid pensions appeal

Judgment is expected in the Court of Appeal this week in the National Grid pensions case. Pensioners Reg Mayes and David Laws, former employees of the Central Electricity Generating Board, claimed the electricity industry pension surplus had been unlawfully distributed after the gains failed to reach retired workers. The outcome of their appeal is likely to affect 200,000 pensioners along with scheme assets valued at an estimated u1.5bn.