AXA Elevate Pension Scheme (PO-17028)

Ombudsman’s Determination

Outcome

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

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

Complaint summary

Mr N has complained that AXA failed to make sure his transfer documents were received by Barclays (the Ceding Scheme) in time to meet the guaranteed transfer value deadline.

Mr N believes that, as the guaranteed transfer value was due to expire within a week of AXA receiving the documents, it should have sent the paperwork to the Ceding Scheme by recorded delivery. As AXA sent the documents by first class post, they were not delivered within the guarantee period, so the transfer value had to be recalculated.