BA

This week's top stories included exclusive coverage of The Pensions Regulator's plans to require schemes to use professional trustees.

Trustees of the Airways Pension Scheme (APS) have been granted permission to use more than £1m of scheme assets to fund an appeal over discretionary increases.

This week's top story was British Airways' Airways Pension Scheme completing a £4.4bn buy-in with Legal & General, the market's largest ever single transaction, making 2018 a record year for bulk annuities.

Trustees of the Airways Pension Scheme (APS) have confirmed they will appeal to the Supreme Court over a recent Court of Appeal judgment striking down their ability to award discretionary increases.

Stephen Richards says the 'paymasters' principle is likely to be scrutinised closely in light of British Airways' landmark win in the Court of Appeal.

Concluding that the purpose of a pension scheme is not simply to apply the employer's preferred remuneration strategy would result in trustees becoming "paymaster", the Court of Appeal has been told.

British Airways is set to close the New Airways Pension Scheme to future accrual and launch a flexible benefits scheme incorporating a new defined contribution pension scheme.

British Airways (BA) will appeal a High Court decision which allowed trustees of one of its defined benefit (DB) schemes to grant a 0.2% increase to pensioners.

British Airways (BA) has lost a landmark trial to block its pension trustees' decision to award a discretionary increase in 2013.

The aggregate deficit of British Airways' (BA) pension schemes has climbed 94% since the end of June, despite one scheme increasing its surplus.