British Steel - update October 2019
Since we issued our update on 29 March 2019, the Ombudsman has issued his Preliminary Decisions on all of the lead complaints. As we explained in our last update, we have been dealing with all of these lead complaints at the same time, because of similarity in themes and overlapping issues, as well as the need for consistency.
We have received responses from the parties to all of those lead complaints (including from members whose complaints are associated with the lead complaints). It has been necessary to obtain further information from the parties in relation to those responses.
We are in the process of considering these responses and the additional information thoroughly. When we have finished this exercise, we will then be able to decide the most appropriate course of action. This may be to issue further Preliminary Decisions or Final Determinations.
Related news
- TPO sets out its position on trustees’ obligations when considering a member’s request to exercise a pre-2021 statutory transfer right from an occupational pension scheme.Date:The Pensions Ombudsman (TPO) has published a Determination concerning a pension scheme member (Mr D) who transferred from the British Steel Pension Scheme (the Scheme) to a small self-administered pension scheme in 2014. Mr D complained, some years later, that although this was in accordance with his wishes at the time, the transferring trustee (the Trustee) failed to carry out sufficient due diligence to check for scam warning signs, and then communicate the presence of those warning signs to him. As a result, Mr D claimed he had lost valuable retirement benefits.
- Deborah Evans, Chair, reflects on her first month at TPODate:In her first blog, Deborah Evans, TPO’s newly appointed Chair, sets out her thoughts on joining the organisation at such a pivotal time.