Nissan Pension Plan (CAS-32968-W4L2)

Ombudsman’s Determination

Outcome

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

Complaint summary

Mr E’s complaint is that, when commuting some of his pension in order to receive a pension commencement lump sum (PCLS), the Trustee commuted his post 1997 and post 2005 accrued benefits before commuting any of his pre 1997 accrued benefits. Mr E is unhappy with this approach because the portion of his pension in payment resulting from his pre 1997 accrued benefits only receives discretionary increases, and the Trustee has not increased pension benefits on this tranche of benefits for any pensioner members since 2000.  

Mr E says he was not informed in 2011 that the Trustee had changed the basis of calculating the PCLS to what, he believes, is a less favourable basis.