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Complainant: Mr Y
Complaint Topic: Benefits: incorrect calculation
Ref: PO-8890
Outcome: Upheld
Respondent: 1. Curtis Banks Ltd
2. Fidelity Worldwide Investment
Type: Pension complaint or dispute
Date:

Ombudsman’s Determination

Outcome

Mr Y’s complaint is upheld and to put matters right Curtis Banks and Fidelity should:

  • recalculate the compensation amount payable to Mr Y at the date of settlement;
  • Curtis Banks shall pay 64% of this amount into Mr Y’s Fidelity SIPP;
  • Fidelity shall pay 36% of this amount into Mr Y’s Fidelity SIPP; and
  • Each shall pay Mr Y £250 in recognition of the distress and inconvenience which he has suffered dealing with this matter.

 My reasons for reaching this decision are explained in more detail below.

Complaint summary

Mr Y complains that delays on the part of Curtis Banks and Fidelity in effecting a transfer of his pension rights from the Curtis Banks SIPP to the Fidelity SIPP have resulted in an actual financial loss of around £14K. He also contends that he has suffered distress and inconvenience because of these delays.

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