Scheme:
PIMCO Europe Ltd DC Pension Plan
Complainant:
Mr U
Respondent:
PTL Governance Limited
Topic:
Misquote/misinformation
Ref:
PO-27980
Date:
Thu 26 Sep 2019
Outcome:
Not upheld

Ombudsman’s Determination

Outcome

I do not uphold Mr U’s complaint and no further action is required by the Trustee.

Complaint summary

Mr U complains that he was not given sufficient time to consider his options after being informed that his Plan investments were being switched to a new fund.

As a result of the switch, he says he was unable to transfer his Plan investment, and this has resulted in an investment loss of around £17,000. Mr U would like to be compensated for this.

View determination