British Steel Pension Scheme (PO-39731)

Complainant: Mr R

Complaint Topic: Transfers: general

Ref: PO-39731

Outcome: Not upheld

Appeal outcome: None

Respondent: B.S Pension Fund Trustee Limited
Open Trustees Limited

Type: Pension complaint or dispute

Date: 29 January 2021

Appeal: No

I do not uphold Mr R’s complaint and no further action is required by Open Trustees.

In connection with the restructuring of Tata Steel (UK) Limited, BSPS members were offered the choice of transferring into the new BSPS (the New BSPS) or remaining within the BSPS, which was likely to enter into the Pension Protection Fund (the PPF). This choice was communicated to members during the Time to Choose exercise.
Members were provided an option form where they could choose whether they wanted to remain within the BSPS or transfer into the New BSPS. Mr R selected to transfer into the New BSPS, however he did not sign the option form. Because the option form was incomplete, the Trustee did not accept Mr R’s request and he remained within the BSPS.
Mr R has complained that he was not transferred into the New BSPS.

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