What is known so far about the case Verity Trustees Limited v Wood?

The case Verity Trustees Limited v Wood promises to be a significant case for pensions. At the time of writing, it was still being heard in the High Court and that alone is noteworthy since the hearing began on 12 February 2025. Due to the complexity of the case and the amounts involved, the High Court’s decision is not expected until later in 2025.

The High Court has been asked to determine whether various amendments to the scheme’s trust deed and rules were in breach of the provisions of the power of amendment which contains a so-called fetter, so rendering the changes invalid. Certain further aspects of the effect of failing to comply with the section 37 confirmation