1. The plaintiff is an association of pensioners of ABN AMRO Bank. Defendant No.1, who is the only contesting defendant, (defendant) is the successor-in-title in title to ABN AMRO Bank. The plaintiff has sued for recovery of diverse amounts by way of pensionery benefits of its members upon the pension rules as also the assurances of the defendant to pay specified percentage of pensionable salary which has been increased by the defendant from time to time. The plaintiff has challenged the reductions made by the defendant in the percentage of pensionable salary agreed to be paid. This suit is filed for declaration that the reduction is bad in law and in breach of the contract of the defendant, that the defendant be stopped from reducing the pension of the agreed percentage, the challenge to the reduction of the specified percentage and an injunction against acting upon such reduction as also for deposit of specified amount towards the balance of the pension amount payable.

2. The plaintiff has also relied upon the Pension Rules 1975, under the Trust Deed executed by ABN AMRO Bank, the predecessor-in-title of the defendant with the trustees of the pension funds in 1975. The