Bank of America Merrill Lynch UK Pension Plan (PO-24436)
Complainant: Mr N
Complaint Topic: Fund switches
Ref: PO-24436
Outcome: Partly upheld
Appeal outcome: Permission refused
Respondent: 1) Bank of America Merrill Lynch UK Pension Plan Trustees Limited
2) Capita
2) Capita
Type: Pension complaint or dispute
Date:
Appeal: Yes
Ombudsman’s Determination
Outcome
Mr N’s complaint against Capita is partly upheld. The complaint against the Trustee is not upheld. To put matters right (for the part that is upheld), Capita shall pay Mr N £1,000 in respect of the serious non-financial injustice it has caused.
Complaint summary
Mr N’s complaint is that Capita, the administrator of the Plan, gave him incorrect information that Equitable Life, the Plan provider, could not carry out his instructions to sell his holding in the Far Eastern Fund (the Fund) in the manner that he wanted to.
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