HSBC Bank (UK) Pension Scheme (CAS-43565-P2H7)
Willis Towers Watson (WTW)
Ombudsman’s Determination
Outcome
I do not uphold Dr H’s complaint and no further action is required by the Trustee or WTW.
Complaint summary
Dr H’s complaint concerns the calculation of his benefits from the Scheme when he was made redundant in November 2019. He is unhappy that, when calculating an underpin that related to his benefits, WTW:
applied an early retirement reduction; and
used a revaluation rate that he considers to be incorrect.
Dr H said that the application of an early retirement reduction was not consistent with the information contained in the Employer’s Security of Employment policy (SEP) published on 29 August 2019.
View determination
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