Old British Steel Pension Scheme (PO-18650)

Ombudsman’s Determination

Outcome

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

Complaint summary

Mr N has complained that he should have been told about the change in the Cash Equivalent Transfer Value (CETV) calculation basis. He believes that, at the time that he transferred, the Trustee must have known that the new calculation basis was going to increase members’ CETVs, but he was not given any notice.