As we said in our last email the Trustee of the LBG pension schemes must act in the best interests of scheme members. Many pensioner members are struggling to cope with the cost of living crisis and that’s only going to get worse over the next few months. The Retail Price Index is 13.4% and the Consumer Price Index is 10.5%.
In our last letter, which many members sent to Harry Baines, Chairman of the Trustee Board, we said that the Trustee should either make a one-off cost of living payment similar to the one given to current members of staff or undertake an individual review awarding one-off increases to those retired members of staff with the smallest pensions. The Trustee has not responded to the letters sent by members.
We have produced a letter that pensioner members should send to Mr Charlie Nunn, Chief Executive Officer, Lloyds Banking Group asking him to intervene with the Trustee on this important issue. Members should print off the letter and fill in their address details.
Members with any questions can either can contact us through our website here or contact us on 01234 262868.