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PO allows retrospective closure of Barber window

In a complaint involving the Avis UK Pension Plan, the Ombudsman considered the retrospective amendment in November 1992 of the Plan’s rules to equalise male and female members’ NRDs at 65, which closed the Barber window with effect from January 1991 and thereby retrospectively increased female members’ NRDs from 60 to 65. The Ombudsman held that the amendment was valid, as the amendment power permitted retrospective amendments and did not prohibit detrimental changes to accrued benefits, and s.67 of the Pensions Act 1995 only applied to amendments made on and after 6 April 1997.

 

The determination can be found here.

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