FCA Pension Plan (CAS-30329-M6B1)

Ombudsman’s Determination

Outcome

I do not uphold Mr N’s complaint and no further action is required by the Trustee.

Complaint summary

Mr N has complained that the Trustee did not give him adequate information about the significance of a member’s “target retirement date” (TRD) in a life-style fund, either at the time when he joined the Plan or subsequently. He contends that if he had been given more information about TRDs and the life-styling process, he may have selected a different TRD and/or investment strategy rather than remaining in the default fund.

Mr N also complains that the Trustee has refused to provide him with details of the fund value which would now have been available to him in the Plan if his investments had remained mainly in equities instead of lower risk fixed interest and cash-based assets.