AEGON SIPP (PO-7334)
2. Capita SIP Services
Ombudsman’s Determination and reasons
I agree that part of Mr N’s complaint against AEGON should be upheld, but there is a part of the complaint I do not agree with. To put matters right, AEGON shall pay Mr N £1,000 in recognition of the distress and inconvenience caused to him by delay in authorising his instructions and £199.90 for the “loss interest” on the £20K transferred to the Barclays Wealth brokerage account in September 2012.
My reasons for reaching this view are explained in more detail below.
Mr N complains that AEGON and Capita did not follow his instructions on a timely basis to:
- approve a new stockbroker, Barclays Wealth, for the SIPP which prevented him from making potentially profitable investments based on their advice; and
- transfer cash into a new Barclays bank deposit account he had opened within the SIPP which offered a higher rate of interest.
- The New Firefighters’ Pension Scheme (modified section for retained firefighters) (CAS-72510-R0F4)Complainant: Mr SRespondent: Humberside Fire & Rescue Service (HFRS)Outcome: Not upheldComplaint Topic: Misquote/misinformationRef: CAS-72510-R0F4Date:
- NHS Pension Scheme (CAS-80217-C7M2)Complainant: Mrs BRespondent: NHS Business Services Authority (NHS BSA)Outcome: Not upheldComplaint Topic: Misquote/misinformationRef: CAS-80217-C7M2Date: