Prudential Flexible Retirement Plan (PO-12562)

Ombudsman’s Determination

Outcome

Mr Y’s complaint is upheld against FPOL. To put matters right it will contact Prudential to obtain a calculation of the difference in the value of the Plan, had Mr Y’s funds been invested as he requested. FPOL are then to pay the difference into Mr Y’s new plan (as the Plan with Prudential is now closed) in accordance with my directions set out in paragraphs 26 and 27 of this determination.

My reasons for reaching this decision are explained in more detail below.

Complaint summary

Mr Y has complained that he has suffered a loss of investment growth because his funds were not invested with Prudential, as he requested on his application form.