The PPF Ombudsman has received a referral of a reviewable matter following a decision by the Reconsideration Committee of the Board of the PPF dated 2 May 2012. The reviewable matter concerns the decision by the Board to approve a valuation of the Scheme undertaken pursuant to Section 143 of the Pensions Act 2004.

Summary of the application

The Ombudsman has received an appeal against a decision made by the Pension Protection Fund (PPF) as Scheme Manager of the Financial Assistance Scheme (FAS) under the FAS internal review procedure. The appeal concerns the calculation of Mr Ogborne’s “expected pension” by reference to the amount of annuity which was secured for him out of the assets of his former pension scheme on winding up.

Ombudsman’s Determination

Outcome

I do not uphold Mr L’s appeal and no further action is required by the Board.

My reasons for reaching this decision are explained in more detail below.

Appeal summary

The appeal that this office has agreed to consider is the calculation of Mr L’s FAS payments.

Ombudsman’s Determination

Outcome

I do not uphold Mr R’s appeal and no further action is required by the Board.

My reasons for reaching this decision are explained in more detail below. 

Appeal summary

The appeal that this office has agreed to consider concerns the calculation of Mr R’s Notional Pension.

Ombudsman’s Determination

Appeal summary

Mr L is appealing against the Board’s decision not to pay him a lump sum.

Ombudsman’s Determination

Outcome

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

My reasons for reaching this decision are explained in more detail below.

Complaint summary

Mr N has appealed the decision of the Board of the PPF (the Board) to reduce his Financial Assistance Scheme (FAS) benefits going forward. He also does not believe that his asset share was correctly calculated by FAS and that some elements of his pension benefits were omitted from the calculation.