Statement from Trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme

Following the decision by the High Court to dismiss the judicial review of the decision by the UKSA to align the Retail Prices Index (“RPI") with the housing cost-based version of the Consumer Prices Index ("CPIH") from 2030, the Schemes sought permission from Mr Justice Holgate to appeal the judgment.

This application was rejected, and, after careful consideration, the Trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme have taken the decision not to pursue an application to the Court of Appeal.