Phoenix Life Personal Pension Plans 6000158J, 6000215A, 6000262H and 6026632 (PO-28313)
Complainant: Mr Y
Complaint Topic: Administration
Ref: PO-28313
Outcome: Not upheld
Appeal outcome: None
Respondent: Phoenix Life Limited (Phoenix Life)
Type: Pension complaint or dispute
Date:
Appeal: No
Ombudsman’s Determination
Outcome
I do not uphold Mr Y’s complaint and no further action is required by Phoenix Life.
Complaint summary
Mr Y has complained that Phoenix Life did not carry out sufficient due diligence checks when transferring his benefits from the Plans 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.
View determination
DownloadRelated decisions
- Ford Salaried Contributory Pension Fund (CAS-57216-C1M4)Complainant: Mrs ERespondent: Ford Pension Fund Trustees Limited (the Trustee)
Mercer Limited (Mercer)
Outcome: Not upheldComplaint Topic: AdministrationRef: CAS-57216-C1M4Date: - James Hay Modular Self-Invested Personal Pension (CAS-60018-C4V2)Complainant: Mr ERespondent: James Hay PartnershipOutcome: Not upheldComplaint Topic: AdministrationRef: CAS-60018-C4V2Date: