The City of Toronto appealed a decision declaring its amending by-law unlawful.
The by-law purported to retroactively and prospectively require the municipal pension plan to pay the City's internal administrative costs out of the pension fund.
The Court of Appeal dismissed the appeal, holding that the pension plan constituted a true trust in favour of the employees.
The court found that the City did not reserve a power of revocation, and a general power of amendment does not include the power to revoke.
Therefore, the by-law constituted an unlawful partial revocation and breach of trust.
