The Vincent Murphy Co Ltd Nominated Directors’ Pension Scheme – (PO-3019)

Subject

Mrs Murphy complains of maladministration by DSG, the Scheme administrator, has resulted in financial loss to her. Specifically, she says that the assets of the Scheme appear to have been split in a prejudicial manner to her late husband, John Murphy.  She also says that DSG have used Scheme funds to provide a loan to one of their clients without disclosing this to the trustees and she has suffered a loss.

The Deputy Pensions Ombudsman’s determination and short reasons

The complaint should not be upheld against DSG because it was Mr Murphy’s decision to arrange the loan in question and they were not responsible for any financial loss to the Scheme. DSG also did not influence the asset split which Mr Murphy was aware of and agreed to.