Ombudsman rules against attempt to 'claw back' DB benefits

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The Pensions Ombudsman has ruled against a complainant who argued part of his pension should be classified as DC in order to protect it from Pension Protection Fund reductions.

WM Marshall accepted a severance payment of £320,000 into his salary-related pension from employer Grampian Country Foods Group when he left the company in 1998. However, Grampian hit financial difficulties...

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