LV= Employee Pension Scheme (CAS-112373-H5N6)

Ombudsman’s Determination

Outcome

I do not uphold Mr S’ complaint, and no further action is required by the Trustee. 

Complaint summary

Mr S complained that his pension value reduced by more than £100,000 in less than a year without any indication from the Trustees. He stated there was no information provided to him that explained the level at which this could happen due to market conditions fluctuating, and he should have been notified. 

Mr S also stated in his application to The Pensions Ombudsman (TPO) his annual pension figure had reduced. 

Mr S requested the reinstatement of £100,000 and compensation for his stress, time and effort.