AXA Group Pension Scheme (CAS-36327-J6S3)

Ombudsman’s Determination

Outcome

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

Complaint summary

Mr G complains that he has been disadvantaged by a scheme merger (the merger) and that the actions of the Trustee have denied him his “Pension Freedoms”. He also asserts that his complaint was not given full and proper consideration and that the Trustee failed to provide him with any supporting evidence of its actions.

Specifically, he says that the Trustee and the WS Moody Scheme Trustee between them:

• failed to undertake reasonable and appropriate due diligence when considering a merger of the two schemes;

• failed to protect members of the WS Moody section (the Moody Section) properly;

• misadvised members at the time of the merger;

• failed to take proper Actuarial advice on the matter of CETVs available to members of the WS Moody Retirement Benefits Scheme (the Moody Scheme);

• undertook the merger in the interests of the employer(s); 

• failed to allow him to present his case in person and give the dispute full and proper consideration; and

• weakened the security of members’ benefits inappropriately.