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The NatWest Group Pension Fund (CAS-31456-R0N4)

Complainant: Mr H
Complaint Topic: Failure to provide information/act on instructions
Ref: CAS-31456-R0N4
Outcome: Not upheld
Respondent: NatWest Pension Trustee Limited
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Outcome

I do not uphold Mr H’s complaint and no further action is required by the Trustee.

Complaint summary

Mr H has complained that:-

  • He has suffered a financial loss as a result of being contracted-out of the State Earnings Related Pension Scheme (SEPRS).
  • Since he reached State Pension Age (SPA) in 2018, he has not received the additional contracted-out pension equivalent (COPE)[1] that he thought he would be entitled to.
  • Since SPA, his increases have reduced as a result of the Fund being contracted-out of SERPS.
  • The Trustee should have placed the rebated National Insurance (NI) Contributions into a defined contributions scheme to provide a COPE benefit.


 

[1] COPE is an amount that is equivalent to the additional State Pension a member would have received had they not been contracted-out.

View determination

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