Old British Steel Pension Scheme (PO-26289)

Ombudsman’s Determination

Outcome

I do not uphold Mrs R’s complaint and no further action is required by the Old Trustee or the New Trustee.

Complaint summary

Mrs R’s complaint is that her rights under the OBSPS, which derive from her late husband’s membership, were not transferred to the new British Steel Pension Scheme (BSPS2) in accordance with her instruction of December 2017. Instead, her rights remained in the OBSPS, which later entered the Pension Protection Fund (PPF) assessment period. As a result, she has suffered, and will suffer, a loss in the amount of the annual increases payable under the BSPS2.