Legal and General Stakeholder Pension Plan (PO-26967)
I do not uphold Mr Y’s complaint and no further action is required by L&G.
Mr Y has complained that L&G did not carry out sufficient due diligence checks when transferring his benefits from the Plan to a Small Self-Administered Scheme (the SSAS) in 2014.
The complaint arises as the SSAS was invested in a high risk, commercial business, unsuitable as a pension fund investment, which has subsequently failed. Mr Y fears he has lost much of his pension fund as a result.
- Complainant: Mr NRespondent: FCA Pension Plan Trustee LimitedOutcome: Not upheldTopic: AdministrationRef: CAS-30329-M6B1Date:
- Complainant: Mr YRespondent: Phoenix Life Limited (Phoenix Life)Outcome: Not upheldTopic: AdministrationRef: PO-28313Date: