SCA UK Pension Plan (CAS-83019-G2S0)

Ombudsman’s Determination

Outcome

The complaint is not upheld against the Trustee and because:-

1. The legal opinions requested as a condition of making the transfer to the QROPS were reasonable as the Trustee needed to be satisfied, as a matter of explicit regulatory requirement, that the receiving scheme met the conditions for a statutory transfer under Section 95 of the Pension Scheme Act 1993. 

2. There is no basis on which the Trustee could be liable to Mrs N for the cost of setting up the UK SIPP, the financial advice or any investment loss arising from delay. I find the Trustee acted reasonably throughout and I find no maladministration or breach of duty.

Complaint summary

Mrs N complains that the Trustee blocked the transfer of her pension to a Qualifying Recognised Overseas Pension Scheme in Malta because it required two legal opinions to start the transfer process. Mrs N did not provide the legal opinions and instead transferred her pension to a UK Self Invested Personal Pension and then to her chosen QROPS.

Mrs N is claiming financial loss of £1,200 due to the cost of transferring her pension to a UK SIPP, £6,000 for financial advice costs and loss of potential investment growth.