Exoneration clauses allow trustees to hide - Ombudsman

Rules should be changed to prevent pension trustees from exoneration clauses and repercussions against maladministration or other pension scheme errors, says the Pensions Ombudsman. Speaking out in his annual report, the Pensions Ombudsman, David Laverick said he was very concerned that occupational pension fund members are forced to ask "Where is the justice in this system?" when errors and mistakes made by the scheme cost the members in benefits yet no action can be taken against individual trustees. This is not the first time that Laverick has raised the issue, but he does now ...