Yorkshire & Clydesdale Bank Final Salary Scheme and Bradford & Bingley Staff Pension Scheme 1991 (PO-25899)
Mr N’s complaint is upheld against the Bradford & Bingley Trustees and to put matters right:
- Bradford & Bingley Trustees shall calculate the deferred pension available to Mr N in the Bradford & Bingley Scheme from the transfer of pension rights from the Clydesdale Bank Scheme and inform Mr N accordingly; and
- if Mr N elects to receive a backdated retirement pension and lump sum from the Bradford & Bingley Scheme, then they shall also calculate and pay simple interest on the payments due.
My reasons for reaching this decision are explained in more detail below.
Mr N complains that:
- either he is entitled to a deferred pension in the Clydesdale Bank Scheme and the Clydesdale Bank Trustees are improperly refusing to pay it to him; or
- if his deferred pension has been transferred to the Bradford & Bingley Scheme, the Bradford & Bingley Trustees have failed to allow for the additional benefits available from this transfer in when calculating the cash equivalent transfer value (CETV) of £25,476.58 which was paid to the HSBC Pension Scheme on 20 April 1995.
- Complainant: Mrs SRespondent: Lloyds Banking Group Pensions Trustees Limited
Willis Towers WatsonOutcome: Not upheldComplaint Topic: Benefits: refusal/failure to pay or late paymentRef: CAS-37810-V2L4Date:
- Complainant: Dr GRespondent: BP Pension Trustees LimitedOutcome: Not upheldComplaint Topic: Benefits: refusal/failure to pay or late paymentRef: CAS-49197-C8C6Date: