Travel Automation Systems Retirement Benefits Scheme (PO-5688)

Complaint summary

Mr Brackley has complained that Bluefin (now Capita) unreasonably delayed the provision of a transfer quotation and the subsequent processing of his request to transfer which has meant that the transfer of his benefits was not completed before Her Majesty’s Revenue & Customs (HMRC) delisted the Guernsey-based qualifying registered overseas pension scheme (QROPS) to which he wanted to transfer. Mr Brackley says that the failure to transfer at the time his request was made has led to a fall in the value of the transfer value of £30,314. In addition, as he was unable to transfer to the Guernsey-based QROPS he will now have to pay income tax on his pension benefits (which he would not have had to pay had the transfer been made to the Guernsey-based QROPS).

Summary of the Ombudsman’s Determination and reasons

The complaint is not upheld against Capita. Bluefin’s failure to complete the transfer to the QROPS was not as a consequence of unreasonable delays in the provision of a cash equivalent transfer value quotation, or in the subsequent processing of his request to transfer. However, Bluefin’s failure to keep Mr Brackley updated as to the delay in producing his cash equivalent transfer value quotation was maladministration. Nevertheless, Bluefin should not be required to compensate Mr Brackley for their maladministration as it has not caused him any injustice.