Pilots National Pension Fund (CAS-27382-Q6L3)
Complainant: Mr D, Mr McR, Mr Y, Mr W, Mr R, Mr NS and Mr S (the Applicants)
Complaint Topic: Other
Ref: CAS-27382-Q6L3
Outcome: Not upheld
Appeal outcome: None
Respondent: PNPF Trust Company Limited
Type: Pension complaint or dispute
Date:
Appeal: No
Ombudsman’s Determination
Outcome
I do not uphold the Applicants’ complaint and no further action is required by the Trustee.
Complaint summary
The Applicants have said they are unhappy with the Trustee’s decision to change their accrual rate for benefits under PNPF from 1/60th to 1/70th.
In particular, the Applicants have complained that:-
· The Trustee did not consider feedback from PNPF members before changing the accrual rate.
· The Trustee has acted in favour of higher earners to the detriment of lower earners.
· They have suffered a loss and they should be compensated with the option to retire at age 60 without any reduction to their benefits.
View determination
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