The Shipbuilding Industries Pension Scheme and Prudential Personal Pension
Plan (PO-8517)

Ombudsman’s Determination

Outcome

Mr N’s complaint is upheld against Prudential only and to put matters Prudential should calculate the current value of the cash equivalent transfer value of £2,727.02 assuming that it had been paid into the Plan on 29 July 1992 and then transfer this amount to Mr N’s current pension arrangement administered by AEGON.

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

Complaint summary

Mr N complains that either:

• the Trustees are wrongly refusing to pay the deferred benefits available to him from the SIPS if the transfer of his pension rights to the Plan did not proceed in 1992; or
• Prudential have failed to transfer these benefits which should have been paid in the Plan to his pension arrangement with AVIVA in September 2002