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Pearl (now Phoenix) Assurance Freedom Bond Pension Plan (PO-25811)

Complainant: Mr E
Complaint Topic: Administration
Ref: PO-25811
Outcome: Not upheld
Respondent: Phoenix Life Assurance Limited
Type: Pension complaint or dispute
Date:

Ombudsman’s Determination

Outcome

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

Complaint summary

Mr E complains that:-

    • He was provided with incorrect information about the type of plan he held in a pre-retirement pack received from Phoenix Life dated 24 May 2018.
    • He had understood he would receive the same benefits at retirement in the Plan as if he had remained in the occupational scheme of his former employer, Thorn EMI, (the Thorn Scheme).
    • He is unable to retire early as the Plan value is insufficient to meet the guaranteed minimum pension (GMP).

Mr E would like to be paid the pension he would have received if he had remained in the Thorn Scheme.

View determination

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