[2005] EWCA Civ 1004, Court of Appeal on 28th July 2005, reported at [2006] ICR 18, CA.
NOTES
Aon Trust Corpn v KPMG (a firm), [2005] EWCA Civ 1004 reported at [2006] ICR 18 (2005 May 23, 24, 25 and July 28, Mummery, Chadwick and Jonathan Parker LJJ)
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Representation:
Mr Christopher Nugee QC and Mr Jonathan Evans instructed by Messrs DLA Piper Rudnick Gray Cary UK LLP for AON Trust;
Mr Jonathan Sumption QC and Mr Paul Newman instructed by Messrs Linklaters for KPMG
Mr Robert Ham QC and Mr Michael Tennet instructed by Messrs Pinsent Masons for Ms Ruth James
Mr Brian Green QC and Ms Emily Campbell instructed by Messrs Macfarlanes for Mr Julian Walker
Authority for the proposition that:-
a power enabling the trustees of a pension fund to reduce pensions already in payment will require the "clearest" words in order to be effective as the calculation of a member's pension is in general a once-for-all calculation, carried out as at the date when the pension first came into payment.
For relevant general notes see Pensions/problem areas .
FINISH>
prepared Jan2006.