Phoenix Life Pension Plan (the Plan) Policy Numbers 813351 & 813352
(PO-15967)

Ombudsman’s Determination

Outcome

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

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

Complaint summary

Mr R complains that as a consequence of delays on the part of Phoenix in transferring the pension benefits available to Mrs R, his late wife, from the Tally Limited Pension Scheme (the Scheme) to another pension arrangement:

• he lost the opportunity to receive the transfer value available to Mrs R from the Scheme entirely as a lump sum death benefit; and
• he is now entitled to a Plan annuity secured with Phoenix of around £450 pa representing the widower’s pension available to him from the Scheme which has been wound up

Although Phoenix paid him a goodwill compensation award of £13,729 representing the difference between Mrs R’s transfer value figure calculated as at 3 March 2016 and the cost of securing his widower’s pension in the Plan, Mr R does not consider this payment adequately compensates him for his loss.