Compass Group Pension Plan (CAS-43151-R0L7)

Complainant: Mr R

Complaint Topic: Divorce

Ref: CAS-43151-R0L7

Outcome: Not upheld

Appeal outcome: None

Respondent: Compass Group Pension Trustee Limited
XPS

Type: Pension complaint or dispute

Date: 08 June 2022

Appeal: No

I do not uphold Mr R’s complaint and no further action is required by the Trustee or XPS.

Mr R has complained that:-

XPS, the administrators of the Plan, miscalculated the cash equivalent transfer value (CETV) of £454,580 that was paid to his ex-spouse under the terms of the pension sharing order (PSO).

When agreeing the distribution of assets, he relied on a lower CETV that was previously quoted to him. As a result, he took out a loan of £50,000, to balance out the division of assets on divorce.

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