The Pension Protection Fund (CAS-81612-D7R6)

Ombudsman’s Determination

Outcome

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

Complaint summary

Mr Y’s complaint is that the Board failed to consider section 9931 of the Companies Act 2006 (CA 2006) when it did not object to the Halcrow Regulated Apportionment Agreement (the RAA) that was put in place in respect of the Halcrow Pension Scheme (the Scheme).  

Mr Y considers he has suffered injustice arising from the Board’s maladministration because, as a result of the Scheme’s transfer to the PPF, the inflationary increases on his PPF compensation in respect of his post-1997 service are capped at a lower rate. He also does not receive inflationary increases on his PPF compensation in respect of his pre-1997 service.