Scottish Widows Group Personal Pension Scheme (CAS-116291-Z1G5)

Ombudsman’s Determination

Outcome

Mr G’s complaint is upheld, and to put matters right, the Employer shall carry out the actions in paragraph 49.

Complaint summary

Mr G is unhappy that when his employment ended, his Individual Pension Plan (the Plan) within the Scheme was closed too soon and so the remaining pension contributions from his Employer were paid into a new, separate account (the new Plan) instead. This has led to a loss, as the pension contributions were invested in a default fund in the new Plan rather than the funds he had previously chosen.