Sappi UK Pension Scheme (PO-21607)

Ombudsman’s Determination

Outcome

I do not uphold Mr S’ complaint and no further action is required by PAN.

Complaint summary

Mr S has complained that the index used for pension increases has changed from the Retail Prices Index (RPI) to the Consumer Price Index (CPI). Mr S has also made a number of other comments regarding the change to CPI including:-

• the removal of member nominated trustees and the appointment of PAN as a sole trustee;
• the absence of consultation on the move to CPI;
• there is no need to move to CPI as the Scheme is fully funded; and
• the Trustee, PAN, is working in the company’s interests and not the members’ interest.