Transferring deferred pension

AlanP_2

kidmugsy wrote: »

Is that consistent with the scheme rules? It's the trustees of the scheme who are responsible, not the employing company.

Fully consistent apparently. The trustees recommend an increase (or not) and the company has to consider it and either put it into payment or not as regards pre-1997 service

9 out of 10 years they have decided not to and in 1 year they paid out a 1% increase.

The current company (Hewlett Packard) is the 2nd hand "inheritor" of original scheme as company was sold once after I left and then subsequently sold again.

Its been taken to the Pension Ombudsman by a current pensioner where (despite consistent increases prior to most recent takeover) it was deemed not to be "custom and practice" and as long as it was considered then all was well.

See:

https://www.pensions-ombudsman.org.uk/wp-content/uploads/PO-4065.pdf

and for an independent view on the judgement :

https://www.slaughterandmay.com/media/2438478/discretionary-pension-increases-were-not-established-custom-pension-ombudsmans-determination-in-relation-to-bains.pdf