Boots Pension Scheme (PO-21175 and additional applicants)

Ombudsman’s Determination

Outcome

I do not uphold Mr N and the Additional Applicant’s complaint and no further action is required by the Trustee.

My reasons for reaching this decision are explained in more detail below.

Complaint summary

Mr N, and the Additional Applicants, have complained that they were not informed, when they joined the Scheme, that they would be contracted out of the State Earnings Related Pension Scheme (SERPS).

Mr N says that, as a consequence of being contracted-out of SERPS, his state pension has now been reduced and there is no guarantee that the Guaranteed Minimum Pension (GMP) he will receive from the Scheme will be equivalent to the state pension he has given.

Mr N would like the Trustee to make up any financial loss that has occurred as a result of him being contracted-out of SERPS.

We have received nine other complaints against the Trustee which are identical to Mr N’s complaint. The Additional Applicants’ complaints have been associated with Mr N’s complaint and the findings of my determination will apply equally to those complaints.