Liberata Pension Plan (PO-13828)

Ombudsman’s Determination

Outcome

I do not uphold Mr K’s complaint and no further action is required by Liberata.

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

Complaint summary

Mr K says Liberata should have given him the option to transfer out the Contributions Equivalent Premium (CEP) of £1,010 that was paid to HM Revenue & Customs (HMRC) in May 2017, in respect of his membership in the Scheme. Mr K says he missed out on the opportunity to invest the CEP and to benefit from any investment growth.