NOW: Pensions (PO-13267)

Ombudsman’s Determination

Outcome

Mr S’ complaint against NOW: Pensions is partly upheld, but there is a part of the complaint I do not agree with. To put matters right (for the part that is upheld) NOW: Pensions should pay Mr S £500 in recognition of the distress and inconvenience caused to him and pay Mr S £34.40 for the administration fees and investment loss it has subsequently offered to pay him.

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

Complaint summary

Mr S is unhappy with the incorrect and inconsistent valuation of his pension fund. It did not reflect his contributions and those of his employer, the combined total of which were in excess of £800. There was a failure to properly account for those contributions.