Phoenix Life Personal Pension (the Plan) Policy No: 2311083J (PO-24307)

Ombudsman’s Determination

Outcome

Mr T’s complaint against Phoenix 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 shall pay Mr T £2,000 in recognition of the severe distress and inconvenience which he has experienced dealing with this matter.

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

Complaint summary

Mr T complains that Phoenix provided him with incorrect information about the benefits available to him from the Plan which he relied upon to his financial detriment. He says that in April 2017, shortly before his 70^th birthday, he purchased a car, the price of which he believed would be covered in part by the tax free lump sum of around £7,000 that would be available from the Plan on his retirement. It later transpired that his pension rights in the Plan had already been transferred in 1990 to the Kellogg Brown & Root (UK) Ltd Pension Plan, now administered by Mercer, and it was not until October 2017 that Phoenix brought this to Mr T’s attention.