Skip to main content

Interserve Pension Scheme (PO-26878)

Complainant: Mr L
Complaint Topic: Post retirement increases (escalation): RPI/CPI
Ref: PO-26878
Outcome: Not upheld
Respondent: Interserve Trustees Limited
Type: Pension complaint or dispute
Date:

Ombudsman’s Determination

Complaint Summary

Mr L’s complaint concerns the Trustee’s decision in exercising its discretion to change the index used for future increases on pensions in payment. Mr L argues that:-

  • The Trustee did not have sufficient power under the Trust Deed and Rules dated 31 August 2017 (the Rules), to change the index from the Retail Price Index (RPI) to the Consumer Price Index (CPI).
  • His retirement letter contained the words “in accordance with the rules of the scheme.” This indicates that the Rules were followed in deciding his pension. The Rules at that time did not contain any provisions for the subsequent change to CPI.

Summary of the Ombudsman’s Determination and reasons

The complaint is not upheld because recent case law and the Rules do not prevent the Trustee from changing the index.

 

View determination

Download

Related decisions

  • CEMEX UK Executives' Pension Fund (CAS-43680-P8P8)
    Complainant: Mr Y
    Respondent: CEMEX UK Executives’ Pension Trust Limited
    Outcome: Not upheld
    Complaint Topic: Post retirement increases (escalation): RPI/CPI
    Ref: CAS-43680-P8P8
    Date:
  • DCWW Pension Scheme – MIS Section (PO-21816)
    Complainant: Mr N
    Respondent: 1. Welsh Water Pension Trustee Limited
    2. Dŵr Cymru
    Outcome: Not upheld
    Complaint Topic: Post retirement increases (escalation): RPI/CPI
    Ref: PO-21816
    Date: