Lambert Fenchurch Staff Pension Scheme (PPFO-8286)
Complainant: Lambert Fenchurch Staff Pension Scheme
Complaint Topic: Other
Ref: PPFO-8286
Outcome: Not upheld
Appeal outcome: Upheld
Respondent: The Board of the Pension Protection Fund
Type: Pension complaint or dispute
Date:
Appeal: Yes
Ombudsman’s Determination
Summary of application
The Ombudsman has received a reference of a reviewable matter, following a decision by the Reconsideration Committee of the Pension Protection Fund (PPF) dated 27 February 2015. The referral concerns the decision, by the Board, not to treat Mr N’s transferred-in pension as a money purchase benefit.
Summary of the Ombudsman’s decision and reasons
The Board is not required to take any action. Mr N’s transferred-in pension does not fall within the definition of a money purchase benefit either before or after the July 2014 amendment to section 181(1) Pension Schemes Act 1993. Nor is the Board required to treat his transferred-in pension separately for the purposes of applying the compensation cap.
View determination
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