Merlin Pension Scheme (CAS-74246-K7Q0)

Ombudsman’s Determination

Outcome

I do not uphold Mr R’s complaint, and no further action is required by the Trustee or the Administrator. 

Complaint summary

Mr R has complained that the Administrator failed to notify him of scam warning signs before he proceeded with transferring his benefits from the Scheme to the Harbour Retirement Scheme, a Qualifying Overseas Retirement Pension Scheme. Assets in the HRS were subsequently invested in an illiquid, overseas green energy investment and are unlikely to be recovered in full, or even at all.

Mr R wants to be put in the same position he would have been in if he had not transferred his benefits to the HRS.