Local Government Pension Scheme (PO-10365)

Ombudsman’s Determination

Outcome

Mr R’s complaint against the LPFA is partly upheld, but there is a part of the complaint that I do not agree with. To put matters right for the part that is upheld the LPFA shall pay Mr R £1,000.

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

Complaint summary

Mr R has complained about the LPFA’s decision to allow him to transfer his pension into the Gresham Pension Scheme (the Gresham Scheme). It has since been established that the Gresham Scheme is linked to pension liberation and it appears Mr R has lost all of his pension.

Mr R has argued that the transfer should not have gone ahead as the Gresham Scheme was not regulated by the Financial Conduct Authority (the FCA) and the LPFA should have conducted further checks on the Gresham Scheme.