Euler Trade Indemnity Pension Scheme (PO-5148)

 Ombudsman’s Determination

Outcome

I do not uphold Ms D’s complaint, and no further action is required by the Company, Mercer Limited and the Trustees.

My reasons for reaching this decision are explained in more detail below.

Complaint summary

her deferred pension under the Scheme is being revalued at a different rate than the Company and Mercer Limited advised her in 1993 and 2002, respectively; and

on behalf of the Trustees, Mercer Limited told her, in 2002, that she would be able to draw her pension from age 60 without any reduction for early payment, or receive an uplifted pension from age 60 to age 63, but the Trustees have subsequently said that she will not be entitled to receive an unreduced pension until age 63.