Lloyds Bank Pension Scheme Number 2 (PO-20632)

Ombudsman’s Determination

Outcome

I do not uphold Mr S’ complaint, and no further action is required by WTW.

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

Complaint summary

Mr S’ complaint about WTW, the Scheme administrator, is that it delayed responding to enquiries from his adviser (the Adviser) about the cash equivalent transfer value (CETV) provided to him, and prevented him from being able to transfer his benefits before the guarantee date expired. A subsequent CETV produced a reduced transfer value, and Mr S would like WTW to honour the previous (higher) transfer value.