Hewden Pension Plan (PO-23320)

Ombudsman’s Determination

Outcome

I do not uphold Mr Y’s complaint and no further action is required by Mercer or Open Trustees.

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

Complaint summary

Mr Y complains that Mercer provided him with misleading information in relation to a transfer value quotation, which resulted in a misunderstanding as to what options he had to transfer his benefits out of the Plan.

Mr Y has also said that, because he did not transfer out of the Plan and because his employer, Hewden Stuart later went into administration, which triggered the Plan’s entry into an assessment period for the purposes of the Pension Protection Fund (PPF) – the options available to him are now more restricted.