CEMEX UK Executives' Pension Fund (CAS-43680-P8P8)
Complainant: Mr Y
Complaint Topic: Post retirement increases (escalation): RPI/CPI
Ref: CAS-43680-P8P8
Outcome: Not upheld
Appeal outcome: None
Respondent: CEMEX UK Executives’ Pension Trust Limited
Type: Pension complaint or dispute
Date:
Appeal: No
Ombudsman’s Determination
Outcome
I do not uphold Mr Y’s complaint and no further action is required by the Trustee.
Complaint summary
Mr Y’s complaint concerns the index that is being used to increase his deferred pension in excess of his Guaranteed Minimum Pension (GMP). He is unhappy that his pension in excess of his GMP (the Excess) is being increased in line with the Consumer Price Index (CPI) and not in line with the Retail Price Index (RPI), as he was previously told it would be. He also understands that pensions in payment are being increased by CPI and believes this to be wrong.
View determination
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