Ladbrokes Pension Plan (CAS-62344-S9Y4)

Ombudsman’s Determination

Outcome

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

Complaint summary

Mr N’s complaint concerns changes the Trustee made to facilitate Rothesay Life (Rothesay) assuming liability for paying the Plan’s benefits. He says that this paved the way for the closure of the Plan and a return of surplus funds to the Principal Employer.

In particular, he believes that he was treated unfairly when the Trustee changed the Plan’s late retirement factors (LRFs) with effect from 14 June 2019. He would like the Trustee to honour the earlier retirement quotation.