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Smiths Industries Pension Scheme (CAS-110689-M5K1)

Complainant: Mr S
Complaint Topic: Post retirement increases (escalation): general
Ref: CAS-110689-M5K1
Outcome: Not upheld
Respondent: Smiths Group plc (Smiths)
S I Pensions Trustees Limited (the Trustee)
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Outcome

Mr S has complained that the increase applied to his Scheme pension in excess of the Guaranteed Minimum Pension (GMP) from 1 May 2022 should have been 7.5% instead of the 5% increase that was actually awarded, in contradiction to a commitment made to members in August 1998. 

He asks that this increase is paid along with the accumulated arrears.

Complaint summary

The complaint is not upheld because there was no absolute commitment to pay the higher rate of increase and both Smiths and the Trustee have acted in accordance with the Rules. 


 

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