Standard Life Staff Pension Scheme (PO-22840)

Complainant: Mr G

Complaint Topic: Transfers: general

Ref: PO-22840

Outcome: Not upheld

Respondent: The Trustees of the Standard Life Staff Pension Scheme

Type: Pension complaint or dispute

Date: 15 January 2020

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

Mr G’s complaint is about the transfer of his benefits out of the Scheme. In particular that:-

It took three months for a new cash equivalent transfer value quotation (CETV) to be provided following his request to withdraw the original quotation he had received.
The Trustee was unwilling to supersede the CETV quotation with an illustrative non-guaranteed transfer value viewed on Mercer’s (the Administrator) on-line system. Mr G would like to receive the higher non-guaranteed transfer value.
After he had disinvested, the Trustee changed its policy regarding CETVs and Scheme members were issued a further CETV quotation in October 2016.

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