The Old British Steel Pension Scheme (PO-20401)
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 the Trustee should have informed him that the change in Cash Equivalent Transfer Value (CETV) calculation basis would cause CETVs to increase.
He also complained that the information surrounding the OBSPS’ funding position raised the possibility of it entering the Pension Protection Fund (PPF), which encouraged him to transfer out.
View determination
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