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Flexible Pension Plan (PO-29578)

Complainant: Mr S
Complaint Topic: Pension liberation
Ref: PO-29578
Outcome: Not upheld
Appeal outcome: None
Respondent: Scottish Equitable t/a Aegon
Type: Pension complaint or dispute
Appeal: No

Ombudsman’s Determination


I do not uphold Mr S’ complaint and no further action is required by Aegon. 

Complaint summary

Mr S has complained that Aegon failed to carry out sufficient due diligence before transferring his benefits under the Plan to the Optimum Retirement Benefit Plan (the Optimum Plan). Mr S is very concerned that, as a consequence, all his pension funds have been lost, and he wants to be put back into the position that he would have been in if the transfer had not been made. 

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