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Weatherford Group Pension Plan (PO-25314)

Complainant: Mr Y
Complaint Topic: Transfers: general
Ref: PO-25314
Outcome: Not upheld
Appeal outcome: None
Respondent: The Trustees of the Weatherford Group Pension Plan
Mercer
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Outcome

I do not uphold Mr Y’s complaint and no further action is required by the Trustees or Mercer.

Complaint summary

Mr Y’s complaint concerns the reduction of the cash equivalent transfer value (CETV) of the defined benefit element of his benefits in the Plan (the DB element). He believes the Trustees’ and Mercer’s delays resulted in the CETV of the DB element having to be recalculated and that he has suffered a financial loss as a result.

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