Atkins Pension Plan (CAS-29628-J5Q3)
Complainant: Mr S
Complaint Topic: Transfers: general
Ref: CAS-29628-J5Q3
Outcome: Not upheld
Appeal outcome: None
Respondent: Atkins Pension Trustee Limited
XPS Administration
Zurich Assurance Limited
XPS Administration
Zurich Assurance Limited
Type: Pension complaint or dispute
Date:
Appeal: No
Ombudsman’s Determination
Outcome
I do not uphold Mr S’ complaint and no further action is required by XPS, the Trustee, or Zurich.
Complaint summary
Mr S complained about the transfer of the Plan to the Mercer Master Trust (MMT) in 2018. He said it was undertaken without his consent and caused him a loss of approximately £550.
Mr S considered that his risk profile was relatively risk-free, so his investment in the Plan should have been guaranteed to appreciate each year. He said this did not occur during the transfer process and it was the first time the value of his pension had decreased.
View determination
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