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Ben Jones
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 49850
Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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I work oil and gas company. The company is about

Customer Question

Hi. I work for an oil and gas company. The company is about to be taken over by another company by Q1 2016. I expect there will be redundancies. I am a member of a Final Salary Defined Benefit Pension Scheme. 2 years ago the scheme was closed to accrual of new benefits. However my Added Years are still linked to Final Salary. In the Pension Booklet of 2006 it says that if I am made redundant as an "Employee Member" then I can take my pension in full (no actuarial reduction) at age 50. I am 45 years old. However the pension scheme told me it does not apply as I am a "Deferred Member" rather than an "Employee Member". However I am still an Employee and a Member - my pension is still accruing benefit due to salary linkage of the Added Years.
Submitted: 2 years ago.
Category: Law
Expert:  Ben Jones replied 2 years ago.
Hello, my name is***** am a solicitor on this site and it is my pleasure to assist you with your question today.
Your rights in this situation will depend on the definition of what a ‘deferred member’ of this specific pension scheme is. The general definition is that it is someone who has stopped paying into the scheme but is not yet receiving a pension, i.e. not yet retired. So the first thing you must do is check the policy documentation to see if there is a specific definition of what this specific scheme defines as a ‘deferred member’ or an ‘employee member’ and see which one you fall into.
If there is no definition then you must consider the general definition I mentioned above which would examine whether you are still an active member of the scheme or have left it (you could still be an employee but no longer an active member of the scheme).
If you believe that you do not satisfy the definition of a deferred member and the pension provider is refusing to accept that then you can take your case to the Pension Ombudsman, which are an independent regulator for the pensions industry and they can look at your case for free and issue a binding decision.
I trust this has answered your query. I would be grateful if you could please take a second to leave a positive rating (selecting 3, 4 or 5 starts at the top of the page). If for any reason you are unhappy with my response or if you need me to clarify anything before you go - please get back to me on here and I will assist further as best as I can. Thank you
Expert:  Ben Jones replied 2 years ago.
My full response should be visible on this page. Could you please let me know if it has answered your original question or whether you need me to clarify anything else in relation to this? If your query has been answered I would be grateful if you could please take a second to leave a positive rating, selecting 3, 4 or 5 starts at the top of the page. Thank you