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The Old British Steel Pension Scheme (PO-20401)

Complainant: Mr N
Complaint Topic: Transfers: general
Ref: PO-20401
Outcome: Not upheld
Appeal outcome: None
Respondent: B. S. Pension Fund Trustee Limited
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Outcome

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

Complaint summary

Mr N has complained that the Trustee should have informed him that the change in Cash Equivalent Transfer Value (CETV) calculation basis would cause CETVs to increase.

He also complained that the information surrounding the OBSPS’ funding position raised the possibility of it entering the Pension Protection Fund (PPF), which encouraged him to transfer out.

View determination

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