ReAssure Pension (Group Stakeholder Pension Plan) (CAS-90949-P2D1)

Ombudsman’s Determination

Outcome

I partly uphold Mr S’ complaint and ReAssure shall pay Mr S £500 for the significant distress and inconvenience he has experienced less the £200 it has already paid him. 

Complaint summary

Mr S has complained that ReAssure delayed the transfer of two personal pension policies to his Novia UK SIPP. He said:-

• He telephoned ReAssure many times to explain that the urgency of his transfers was because from 1 January 2022 he would become a Spanish tax resident. 

• He had not yet taken any money from his Novia SIPP, but he now had an inherent tax liability because he lived in Spain. He wanted ReAssure to cover his future tax liability.