Scheme Old British Steel Pension Scheme (OBSPS) (PO-19854)
Complainant: Mr N
Complaint Topic: Transfers: general
Ref: PO-19854
Outcome: Not upheld
Appeal outcome: None
Respondent: Respondents B.S. Pension Fund Trustee Limited
Type: Pension complaint or dispute
Date:
Appeal: No
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 about the change in Cash Equivalent Transfer Value (CETV) calculation basis. He said he had been told that his CETV quotation was final, however, as the CETV calculation basis changed after his transfer had been paid, this was not the case.
He also complained that the change in CETV values could not be explained wholly by the Trustee saying it had changed its investment strategy.
View determination
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