Sotheby's Pension Scheme (CAS-104626-P4X8)

Ombudsman’s Determination

Outcome

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

Complaint summary

Ms Y’s complaint relates to the part of her pension accrued prior to 6 April 1997 which is in excess of her guaranteed minimum pension (the Pre 97 Excess Pension). She is unhappy that the Trustees failed to inform her that the power to grant inflation linked increases was, in her view, no longer vested solely in them.

She also complained that she was not made aware that increases on this element of pension that were explained to her over a period of 25 years of employment were not guaranteed by the various iterations of the Trust Deed and Rules that had governed the Scheme (the TD&R).

Ms Y wants her pension from the Scheme to be increased in line with inflation and for these increases to be backdated.