November 2015: Following the Pensions Ombudsman's recent Determination on the complaint brought by Mr W Milne it has been agreed that additional payments are to be made to scheme members whose pension commenced between:
and who chose to commute their pension for lump sum at retirement. This is to address the Ombudsman's conclusion that the scheme's commutation factors should have been reviewed before 2006.
The Milne Team are now finalising the redress calculations and payments will be made to the majority of retired scheme members along with their monthly pensions between 13th November and 1st December 2015. Advisory letters will be issued prior to payments being made.