SJP Wealth Account (PO-20414)

Ombudsman’s Determination

Outcome

Mr S’ complaint is upheld and, to put matters right, SJP shall pay him: (i) redress in respect of the lost units he has identified; (ii) interest from date of surrender to date of payment; and (iii) £500 in respect of significant distress and inconvenience.

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

Complaint summary

Mr S’ complaint against SJP concerns the issues he experienced when he transferred his Pension Plan benefits to a Small Self-Administered Scheme (SSAS) with Hartley. He says there was a discrepancy between the value of the Pension Plan benefits and the benefits transferred to the SSAS. He also says SJP has failed to provide evidence that the correct number of units are present, and that no financial loss has occurred.