Hamble Homes Ltd SSAS (PO-9677)

Ombudsman’s Determination

Outcome

Mr R’s complaint against PIM is partly upheld, but there are several parts of the complaint I do not agree with.  To put matters right (for the part that is upheld) PIM shall take whatever actions may be required by the SSAS’s bank, to allow PIM to be removed as signatory to the bank mandate.

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

Complaint summary

Mr R complains that PIM has acted in maladministration by refusing to:

• resign as Trustee to the SSAS;
• remove itself as signatory to the SSAS bank account;
• set up a new SSAS bank account which pays higher interest, and;
• allow Mr R to take benefits from the SSAS without attaching onerous conditions.

Mr R also complained that PIM should not have approved a loan the SSAS made to Hamble Homes Ltd (Hamble Homes), the Principal Employer.  He also says that PIM should have resigned as Trustee when it issued court proceedings against the SSAS.