Pension – Pension scheme. The appeal concerned the allocation of a surplus on the winding up of a plan established to provide pensions and other benefits for employees of certain companies in a group. The Privy Council, in allowing the appeal, held that the courts below had erred in holding that a clause of the trust deed had been invalid. Further, the matter would be remitted for reconsideration of whether the first appellant could legitimately refuse agreement to a proposed uplift for inflation out of the surplus.