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BT Pension Scheme (CAS-49791-H5B4)

Complainant: Mr N
Complaint Topic: Pension liberation
Ref: CAS-49791-H5B4
Outcome: Not upheld
Appeal outcome: None
Respondent: BT Pension Scheme Trustee
Type: Pension complaint or dispute
Appeal: No

Ombudsman’s Determination


I do not uphold Mr N’s complaint and no further action is required by the Trustee.

Complaint summary

Mr N has complained that, following his application, the Trustee transferred his funds from the BTPS to the Trillium Rafael Ltd Pension Scheme (the Trillium Scheme) without sufficient due diligence and the duty of care it owed him. 

He says that the transferred funds were used to operate his own business and deployed as working capital over the course of two or three years. This was done in the expectation that the business could reach its financial goals, which did not occur. As a result those funds are now lost. 

View determination


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