Interactive Investor SIPP (CAS-50810-B4J9)

Ombudsman’s Determination

Outcome

Mr A’s complaint against IISL is partly upheld, but there is a part of the complaint with which I do not agree. To put matters right for the part that is upheld, IISL shall pay Mr A £500 in respect of the significant distress and inconvenience he has experienced as a result of its maladministration.

Complaint summary

Mr A complained that:- 

• IISL failed to handle his transfer application with due care and attention. It did not keep him informed of progress, causing him to have to contact it frequently for updates and provided misleading information. 

• IISL did not do its job properly and unduly delayed the processing of his transfer application. As a result, his pension funds lost value and his tax-free cash was less than it should have been.