advice re company pension

homersimpson_3

a friend works in a company where they work weekend overtime.
on the weekend the staff receive pay at time and a half and a premium.
the staff were under the impression overtime was counted when determining their pension. my friend who is retiring soon thought their pension forecast was wrong because it did not include overtime but they were advised the rules had changed and only the premium was taken into account when calculating pension. the premium is tiny in comparison to time and half pay.
can the trustees change the rules like this? does my friend have any means of redress? do they just accept it?
thanks

dunstonh

You would need to clarify if its an occupational pension scheme or a group personal pension.

From what you have typed so far, it looks like a group personal pension or a money purchase occupational scheme. The fact you mentioned "premium" suggests that.

There are so many things that could have happened that it would be difficult to answer without facts. However, yes, the trustees/employer can make changes to the scheme but would notify on changes that effect contributions.

Money purchase schemes are just like any saving scheme. If you dont put much in, you dont get much out. An employer can have a very good money purchase scheme but it still doesnt mean that by itself, it is enough to give a decent income in retirement.

I doubt there is any redress. However, without the facts needed, who knows?