LNB News 29/01/2025
Document Information
Issue Date: 29 January 2025
Published Date: 29 January 2025
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
The Pensions Ombudsman (TPO) has ruled in favour of a pension scheme member (Mr H) who was promised mirrored benefits, including pension increases, upon transferring to the Olivetti UK Limited Pension and Life Assurance Scheme 18 years ago. The determination found the employer in breach of law for failing to properly document the promised benefits, and the Trustee in breach of trust for not administering the scheme according to its rules. Notably, TPO established that a continuing contractual obligation existed despite the lack of formal documentation, and that the employer could not rely on a limitation defence. As an outcome of these findings, TPO has directed:
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