Oracle UK Pension Plan (PO-2773)

Complaint Summary

Mr Westbury complains that he has suffered a financial loss in the region of £23,000 because of delays on the part of Towers Watson in effecting a transfer of his pension rights from the Plan in order to secure an annuity with Legal and General.

He also says that he has suffered distress and inconvenience dealing with this matter for which he would like to be suitably compensated.

Summary of the Ombudsman’s determination and reasons

The complaint should not be upheld against Towers Watson. Due to the nature of the Plan, the transfer process was time consuming but Towers Watson had not caused any undue delay in the process.