NOW: Pensions Trust (PO-12571)

Ombudsman’s Determination

Outcome

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

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

Complaint summary

Mr K has complained about a £363 reduction in the value of his pension after it was transferred into the Plan in 2015. He believes this value change is as a result of an undisclosed transfer-in charge from NOW.

Mr K has also complained about the delays by NOW in dealing with his complaint, specifically, he says it delayed responding to his request to reverse the transfer, until it was too late to do so.