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Zurich Executive Pension Plan (PO-24301)

Complainant: Mr T
Complaint Topic: Failure to provide information/act on instructions
Ref: PO-24301
Outcome: Not upheld
Respondent: Zurich Assurance Limited
Type: Pension complaint or dispute
Date:

Ombudsman’s Determination

Outcome

I do not uphold Mr T’s complaint and no further action is required by Zurich.

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

Complaint summary

Mr T’s complaint against Zurich is that he was not able to purchase an annuity before it withdrew from the annuity market. Mr T accepts that it is no longer possible for him to have an annuity with Zurich, but that due to Zurich’s failings, by the time he had secured an annuity with another provider, his fund value had decreased.

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