Annual Report 2014-15
Date:
Our 2014/15 Annual Report and Accounts were published today, 2 July.
The report includes information on our operational and financial performance as well as case studies with examples of investigations carried out during the year. Key points of note are:
Our caseload
- There was a 21% increase in the number of enquiries we received
- We took on 1,281 cases for investigation, 22% more than expected
- We completed 970 investigations. 48% of these were concluded by our investigators and did not require an ombudsman decision
- Just over one third of cases decided by an ombudsman was upheld in full or part
- 72% of our investigations took under a year to complete
- Cases about the actions of the Pension Protection Fund remained a small part of our work, with 72 new in the year (an increase of 16.7%)
- We received 177 complaints concerning alleged pension liberation (a number were determined earlier this year)
Our performance
- We responded to enquiries within an average of 2 days (our target was 3 days)
- We decided whether or not we would investigate a complaint in 4 weeks on average (our target was 7 weeks)
- We completed investigations in an average of 9.8 months (our target was 10 months)
- We completed 970 investigations compared to 1115 in 2013/14, this was due, in part, to dealing with the large number of the pension liberation cases and a delay in replacing staff
Running the office
- We stayed within budget, with costs of £3.291m
- At the end of the year we had 39 employees
You can download a copy of the report here:
Related news
- TPO sets out its position on trustees’ obligations when considering a member’s request to exercise a pre-2021 statutory transfer right from an occupational pension scheme.Date:The Pensions Ombudsman (TPO) has published a Determination concerning a pension scheme member (Mr D) who transferred from the British Steel Pension Scheme (the Scheme) to a small self-administered pension scheme in 2014. Mr D complained, some years later, that although this was in accordance with his wishes at the time, the transferring trustee (the Trustee) failed to carry out sufficient due diligence to check for scam warning signs, and then communicate the presence of those warning signs to him. As a result, Mr D claimed he had lost valuable retirement benefits.
- Deborah Evans, Chair, reflects on her first month at TPODate:In her first blog, Deborah Evans, TPO’s newly appointed Chair, sets out her thoughts on joining the organisation at such a pivotal time.