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P&O Princess Cruises Pension Scheme (PO-29333)

Complainant: Ms L
Complaint Topic: Transfers: general
Ref: PO-29333
Outcome: Partly upheld
Appeal outcome: None
Respondent: Carnival UK
Ross Trustees Services Limited
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Outcome

Ms L's complaint is partly upheld. The Company and the Trustee shall pay an award in recognition of the non-financial injustice she has suffered.

Complaint summary

Ms L's complaint against the Trustee and the Company concerns delays during the retirement and transfer process. Specifically:-

  • She received a CETV of £261,782, after being denied the opportunity to take the transfer value of £278,928 that was initially quoted to her. She also missed out on the opportunity of potential investment returns on the higher transfer value.
  • The delays impacted her ability to draw down her benefits and caused her an exceptional level of distress.

View determination

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