Alloy Sales Limited Executive Pension Scheme (CAS-49148-R5W6)

Ombudsman’s Determination

Outcome

Mr N’s complaint is upheld and to put matters right the other Member Trustees and Rowanmoor shall carry out the directions detailed in paragraphs 29 and 30 below. 

Complaint summary

Mr N has complained that: -

• Rowanmoor incorrectly calculated his share of the Scheme funds which led to his transfer value being undervalued by £24,839.

• The other Member Trustees are refusing to authorise a payment of £24,839 to his pension arrangement with Standard Life (the Standard Life pension).

He says £24,839 should be paid to his Standard Life pension together with interest and that Rowanmoor should compensate him for the distress and inconvenience the matter has caused him.