What if I am unhappy with my pension scheme and need to take matters further?

Each pension scheme must have a ‘dispute resolution’ (disagreement) procedure which your employer must tell you about. If something has gone wrong, you should follow your pension scheme’s dispute procedure. If this doesn’t work, you can go to the Pensions Advisory Service (OPAS) for an independent explanation and advice. If they can’t help, you can take your complaint to the Pensions Ombudsman. The Ombudsman can make a ruling that is legally binding, and it can only be challenged in the courts on a point of law. Although it’s rare, if an insolvent (bankrupt) employer has removed a pension scheme’s assets dishonestly, the Pensions Compensation Board can make compensation payments to the scheme. Click here for details of how to contact OPAS, the Pensions Ombudsman and the Pensions Compensation Board.

Every scheme must provide an annual report, a copy of which you, as a scheme member, can ask for.

All money purchase schemes and most salary-related schemes automatically provide their members with a pension statement every year. If this does not happen, salary related scheme members can ask for one.

The Occupational Pensions Regulatory Authority (OPRA) is responsible for regulating occupational pension schemes. Opra can act quickly to protect your interests if the trustees who run your scheme, or your employers, do not meet their obligations. Scheme auditors and actuaries must tell Opra if the law has been broken, but anyone else can also contact them if they think the scheme is being run in the wrong way. Opra can place restrictions on trustees or even disqualify them. Opra can also fine people who are found to have broken the pension laws. A few serious matters are criminal offences and Opra can take court action. Click here for details about how to contact Opra.

Some of the biggest pension schemes, particularly in the public sector, are set up by Acts of Parliament and so don’t have a trustee structure. They often don’t have pension funds. Instead, the employer pays pensions as they go along.