DM1 Retirement Fund (PO-15298)

Ombudsman’s Determination

Outcome

Miss N’s complaint is upheld, and to put matters right Fast Pensions should provide a full response to Miss N’s questions about the status and security of the Plan and assist her in exercising her statutory right to a transfer out of the Plan to a named pension arrangement that is willing and able to accept it, if she so wishes. Fast Pensions should also pay Miss N £2,000 to reflect the prolonged significant distress and inconvenience caused to her by its maladministration.

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

Complaint summary

Miss N complains that Fast Pensions failed to provide her Plan annual statement in 2016 and to process her request for a transfer to a different pension provider, and as her subsequent attempts to get in touch with Fast Pensions were unsuccessful, she is concerned about the security of her pension funds.