Concentric Plc Directors Pension and Life Assurance Scheme (PO-16214)

Ombudsman’s Determination

Outcome

I do not uphold Mr I’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 I has complained about what he considers to be preferential treatment given to other members of the Scheme and senior managers of Concentric PLC (the Company).

He says his benefits were significantly reduced because the Scheme was underfunded, whereas other senior managers were provided with a full and enhanced pension to the detriment of other members including him.