A Barker & Sons Limited Executive Pension Plan (PO-26363)

Ombudsman’s Determination

Outcome

I do not uphold Mr D’s complaint and no further action is required by Aviva.

Complaint Summary

Mr D’s complaint is about the transfer value of the Plan. Having produced reasonable returns up until 2015, the transfer values quoted each year began to fall. Mr D believes this is a deliberate effort on the part of Aviva to reduce the Plan’s value so that a lower guaranteed pension would be payable to him in retirement. He wants compensation equal to the difference between the Plan’s maturity value and the transfer value that was available in 2015.