Suffolk Life SIPP (PO-19383)

Ombudsman’s Determination

Complaint Summary

Mr S’s complaint about SL, the SIPP administrator, is that it caused a delay in the transfer of his benefits under the SIPP to his occupational pension; and, this caused him a loss of investment growth and significant distress and inconvenience

Summary of the Ombudsman’s Determination and reasons

The complaint should be upheld because: SL took too long to transfer his benefits.

Mr S was entitled to have his SIPP benefits transferred to his occupational pension by 22 March 2017; that is, two days after SL had completed its reconciliation of the assets held in the original SIPP. SL should therefore redress Mr S accordingly (see “Directions” for further details).

SL should also pay Mr S £500 for the significant distress and inconvenience caused by the delayed transfer.