We use some essential cookies to make this website work.

We’d like to set additional cookies to understand how you use our website, remember your settings and improve our services.

Before deciding you can read more about our cookies.

The Tenco Executive Pension Scheme (CAS-38354-V5L8)

Complainant: Mr T
Complaint Topic: Transfers: general
Ref: CAS-38354-V5L8
Outcome: Upheld
Respondent: James Hay Partnership
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Mr T has complained that James Hay caused an undue and avoidable delay in the transfer of his pension to a new provider. As a result, he lost the opportunity to invest in the stock markets immediately following the Brexit referendum result on 23 June 2016. 

Summary of the Ombudsman’s Determination and reasons

The complaint shall be upheld, because due to James Hay’s unreasonable delays Mr T has lost the opportunity to make a financial profit. To compensate him for this, James Hay shall pay £43,700 (plus interest) to his new pension plan.

View determination

Download

Related decisions

  • GEAPS Pension Scheme (CAS-52972-R9K3)
    Complainant: Mr R
    Respondent: Mercer Limited
    The Trustee of the GEAPS Pension Scheme
    Outcome: Partly upheld
    Complaint Topic: Transfers: general
    Ref: CAS-52972-R9K3
    Date:
  • TPS Benefits Scheme (CAS-95270-P0X8)
    Complainant: Dr H
    Respondent: Trustees of the TPS Benefits Scheme
    Buck Consulting
    Outcome: Not upheld
    Complaint Topic: Transfers: general
    Ref: CAS-95270-P0X8
    Date:
View all decisions