National Power plc v Feldon & ors 1997
The High Court (Robert Walker J.) confirmed that there is no overriding requirement of law that actuarial surpluses in occupational schemes must be used to benefit members of the scheme. Subject to the rules of any particular scheme, surpluses can be used to benefit the employer.
(editor's note: Altough this decision was subsequently overruled by the Court of Appeal it was later, on 4th April 2001, reinstated by the House of Lords - see notes at National Power plc v Feldon & ors 2001 ).