HSBC (UK) Pension Scheme (PO-14900)
2. Transact
Ombudsman’s Determination
Outcome
Mrs S’ complaint is upheld against ReAssure, but not against Transact. To put matters right, ReAssure should pay £500 compensation to Mrs S, for the significant distress and inconvenience that has been caused to her.
My reasons for reaching this decision are explained in more detail below.
Complaint summary
Mrs S’ complaint about ReAssure (the ceding scheme) and Transact (the receiving scheme), is that they both contributed to delaying the transfer of her funds, which resulted in financial loss to her.
View determination
DownloadRelated decisions
- Scottish Friendly Assurance Society Personal Pension Policy (CAS-90770-L3S2)Complainant: Ms DRespondent: Scottish Friendly Assurance Society LimitedOutcome: UpheldComplaint Topic: Transfers: generalRef: CAS-90770-L3S2Date:
- Aegon UK (CAS-79272-B1B3)Complainant: Mr RRespondent: Aegon UKOutcome: Not upheldComplaint Topic: Transfers: generalRef: CAS-79272-B1B3Date: