Thames Water Mirror Image Pension Scheme (PO-5304)

Complaint summary

Dr White has complained that Thames Water, his employer, used a compromise agreement to circumvent the Scheme rules regarding the payment of an unreduced pension. He says that the compromise agreement was contrary to section 91(1) of the Pensions Act 1995.

Summary of the Ombudsman’s determination and reasons

The complaint should not be upheld because Dr White has maintained his accrued (reduced) pension rights but waived any prospective entitlement to an unreduced pension through a valid compromise agreement.