Asphalt Reinforcement Services Pension Scheme (PO-21743)

Ombudsman’s Determination

Outcome

Mr E’s complaint is partly upheld and to put matters right, PIM Trustees shall pay an award to Mr E in respect of the non-financial injustice it caused him

Complaint summary

Mr E’s complaint against PIM Trustees concerns alleged financial loss as a result of its poor administration of the Scheme. Specifically:-

· Delays in completing the deed of removal and appointment (the Deed), in connection with its replacement as pensioneer trustee.

· Mismanagement of the leases for the commercial properties, including failure to re-negotiate them.

· Failure to complete the transfer of the share dealing account, after Barclays Plc (Barclays) decided to withdraw this facility.