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Complainant: Mr Daniel Long
Complaint Topic: Transfers: general
Ref: PO-4956
Outcome: Upheld
Respondent: 1. Fidelity Investments
2. Towers Watson
Type: Pension complaint or dispute
Date:

Complaint Summary

Mr Long complains that he has suffered a financial loss as a consequence of delays on the part of Fidelity and Towers Watson in effecting a transfer of the pension rights available to him from the BPSS Pension Scheme into the SIPP.

Summary of the Ombudsman’s determination and reasons

The complaint should be upheld against both Towers Watson and Fidelity because there were needless delays in the transfer process attributable to both parties which resulted in the number of units purchased in the four investment funds selected by Mr Long for the SIPP to be lower than those available if the transfer was finalised on a timely basis.

 

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