29 Sep

UK court rules against British Airways in pension increase case

first_imgThe High Court in London has ruled in favour of the trustees of a British Airways pension scheme in a case concerning their decision to award discretionary pension increases.The case was brought by British Airways plc in late 2013, after the Airways Pension Scheme (APS) trustees decided to award a discretionary pension increase of 0.2% on top of inflation-linked increases.The APS is the older of British Airways’ two defined benefit schemes. According to the High Court judgement, as at 31 March 2015, the scheme – which closed to new entrants in 1984 – had 27,200 members, of which more than 90% were pensioners.  The APS trustees decided to introduce a power that would allow them to grant such non-standard increases in 2011, after the statutory indexation measure was switched from the Retail Prices Index to the Consumer Prices Index. This is generally expected to mean lower pension increases for members. The trial started in October last year.On Friday the High Court ruled that the trustees’ decision to introduce the discretionary increase power in 2011 was valid, as was the decision to grant a 0.2% increase for 2013, effective 1 December 2013.“We are naturally very pleased with the clarity brought by the Court’s decision,” said the APS trustees in a statement.“We welcome the confirmation from the Court that we and our professional advisers acted appropriately in relation to those decisions.”The scheme said it does not currently intend to make further public comment “given the complex nature of the proceedings”.British Airways has the right to appeal.It said that it is “considering its position”.”Given the risks that remain within the scheme we believe the deficit contributions should be applied to improve funding and reduce risks, not improve benefits,” it said, adding that the pensioner members are ”on far more generous pensions than succeeding generations of British Airways employees”.It said the company made payments of more than £500m (€579m) towards pension fund deficits.The APS 2016 annual report put the funding deficit as at 31 March 2014 at £409m.Whether or not British Airways appeals will influence several actions the trustees are able to take in the near term, the scheme has said.For example, it may need to wait before being able to pay the additional 0.2% increase and deciding on any backdated increases for the years 2014-17, it said. The costs of the legal proceedings that APS can expect to have paid by British Airways may also depend on whether the airline appeals, and the outcome of that.The scheme has previously said that it was unlikely it could complete its March 2015 valuation until the outcome of the litigation was known. Following Friday’s judgement it said it is considering its position with its professional advisers.A hearing is scheduled for Thursday, when the High Court will deal with any “applications” that British Airways or the trustee make in relation to the litigation judgement. This could include British Airways seeking permission to appeal, according to a statement from the trustees. Note: This piece was updated on 23 May to clarify when the APS was closed to new members.last_img read more

20 Sep

Man charged with pulling gun during mask dispute at Palm Beach Walmart

first_imgPalm Beach County Sheriff’s officials announced on Thursday that the Florida man who pointed a gun at another Walmart shopper who told him to wear a mask is now  facing felony charges.28-year-old Vincent Scavetta was charged with aggravated assault with a firearm and improper exhibition of a firearm after surrendering Wednesday to Palm Beach County sheriff’s deputies. At a Thursday hearing, bail was set at $15,000.According to an arrest report, Scavetta admitted to sheriff’s investigators he was the shopper in surveillance video who pulled a gun during a July 12 argument with Chris Estrada, who had told him to wear a mask because of the coronavirus pandemic. Palm Beach County requires masks be worn in stores.Scavetta told investigators he had been wearing a mask but took it off because it got wet in the rain.The argument began when Estrada’s young daughter almost walked into Scavetta and his father. The men agreed in their statements that Estrada told Scavetta he should wear a mask and Scavetta cursed at him. Estrada told Scavetta not to curse in front of his daughter.In the video, the two men can be seen yelling at each other, when Scavetta raised his middle finger at Estrada, who advanced at Scavetta pointing his umbrella.Once Scavetta started to walk away, Estrada said something more to Scavetta, and that’s when he pulled his .40-caliber handgun.Scavetta said Estrada had threatened him and his father and hit him in the forehead with his umbrella’s tip. Scavetta, who has a concealed weapons permit, told investigators he pulled out his gun because he feared for his life. He said he holstered his gun and he had his father left the store.He told detectives he felt bad that he had scared Estrada’s daughter by pulling the gun on her father.Estrada told detectives he did not want to pursue charges, but he wanted Scavetta to lose his concealed weapons permit. Detectives told Scavetta’s attorney that no charges would likely be filed if Scavetta gave up his permit, but Scavetta declined. Prosecutors then decided to pursue charges.The man who pulled a gun during a verbal altercation in @Walmart Royal Palm Beach has been arrested for Aggravated Assault with a Deadly Weapon and Improper Exhibition of a Firearm. Welcome to PBC Jail, son. Let this be a lesson. It could have ended badly. pic.twitter.com/Sx13OZ9i4j— PBSO (@PBCountySheriff) July 23, 2020last_img read more

19 Sep

Cricket News Shoaib Akhtar slams Archer for not checking up on Smith

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Former Pakistan pacer Shoaib Akhtar on Sunday slammed Jofra Archer for not showing the basic courtesy of checking on Steve Smith after the Australian batsman was felled on the ground by a nasty bouncer from the England fast bowler during the second Ashes Test.During his fiery spell on the fourth day of the second Ashes Test at Lord’s on Saturday, Archer struck Smith twice—first on his forearm and then on the unprotected back of his neck by a bouncer clocking 92.4 miles per hour.“Bouncers are a part & parcel of the game but whenever a bowler hits a batsman on the head and he falls, courtesy requires that the bowler must go & check on him. It was not nice of Archer to just walk away while Smith was in pain. I was always the first one to run to the batsman,” Akhtar tweeted on Sunday.The body blow forced Smith to retire hurt while batting at 80. After a concussion test, Smith, however, returned in less than an hour to take the crease even as a section of English crowd booed the batsman.The former skipper was eventually dismissed when he shouldered arms to a straight ball from Chris Woakes, just eight runs short of a century. last_img read more