Sears Retail Pension Scheme (PO-16054)
Ombudsman’s Determination
Outcome
Mr S’ complaint against the Trustees is partly upheld, but there is a part of the complaint I do not uphold. To put matters right (for the part which is upheld), the Trustees shall review their decision not to waive the early payment reduction in Mr S’ case.
Complaint summary
Mr S has complained that the Trustees have declined to pay his deferred pension early on the grounds of ill health. He has also complained that the Trustees have not “inflation-proofed” his Guaranteed Minimum Pension (GMP).
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