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James Hay SIPP (PO-13950)

Complainant: Mr T
Complaint Topic: Failure to provide information/act on instructions
Ref: PO-13950
Outcome: Partly upheld
Respondent: 1. James Hay Partnership (James Hay)
2. Phoenix Life Limited (Phoenix Life)
Type: Pension complaint or dispute
Date:

Ombudsman’s Determination

Outcome

Mr T’s complaint against James Hay and Phoenix Life is partly upheld, but there is a part of the complaint I do not agree with. To put matters right, for the part that is upheld, Phoenix Life shall pay into Mr T’s new pension arrangement redress in respect of any loss incurred by its actions. Phoenix Life shall also pay £500 to Mr T in respect of the significant distress and inconvenience he has suffered.

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

Complaint summary

Mr T has complained that James Hay made an unauthorised encashment of his policy, formerly held within the SIPP and that Phoenix Life failed to honour the terms of the original policy.

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