MSD Pension Scheme (CAS-110599-Q0P8)

Ombudsman’s Determination

Outcome

I do not uphold Mrs E’s complaint and no further action is required by AON or the Trustee. 

Complaint summary

Mrs E has complained that she suffered an unacceptable delay in receiving a Cash Equivalent Transfer Value (CETV) quotation by AON, who are the administrators of the Scheme. She said the implementation of the change in methodology for calculating the CETV was not carried out fairly. 

She also complained that she was misled as to the likely level of her CETV by the figures available to her on “Pension Line”, AON’s online portal. She believes she has suffered a loss of £60,000, which is the difference between the 2022 CETV quotation and the value given on Pension Line. Mrs E wishes for her CETV to be recalculated using the methodology in place in December 2021. 

As a result of this, Mrs E says she has suffered distress and inconvenience.