St James’s Place Personal Retirement Plan (PO-8741)

Ombudsman’s Determination

Outcome

I do not uphold Mr D’s complaint.

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

Complaint summary

Mr D is complaining that there has been a significant reduction in the value of the Plan from £7,631.00 to £5,857.00. He says that he was initially informed by SJPWM that this was due to fund performance. Mr D says that he was subsequently informed by SJPWM, that the reason for the reduction was because of an early retirement charge which was never documented or communicated to him.