Sappi UK Pension Scheme (PO-21607)
Complainant: Mr S
Complaint Topic: Post retirement increases (escalation): RPI/CPI
Ref: PO-21607
Outcome: Not upheld
Respondent: PAN Governance LLP
Type: Pension complaint or dispute
Date:
Ombudsman’s Determination
Outcome
I do not uphold Mr S’ complaint and no further action is required by PAN.
Complaint summary
Mr S has complained that the index used for pension increases has changed from the Retail Prices Index (RPI) to the Consumer Price Index (CPI). Mr S has also made a number of other comments regarding the change to CPI including:-
- the removal of member nominated trustees and the appointment of PAN as a sole trustee;
- the absence of consultation on the move to CPI;
- there is no need to move to CPI as the Scheme is fully funded; and
- the Trustee, PAN, is working in the company’s interests and not the members’ interest.
View determination
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