P&O Princess Cruises Pension Scheme (PO-29333)

Complainant: Ms L

Complaint Topic: Transfers: general

Ref: PO-29333

Outcome: Partly upheld

Appeal outcome: None

Respondent: Carnival UK
Ross Trustees Services Limited

Type: Pension complaint or dispute

Date: 22 August 2022

Appeal: No

Ms L's complaint is partly upheld. The Company and the Trustee shall pay an award in recognition of the non-financial injustice she has suffered.

Ms L's complaint against the Trustee and the Company concerns delays during the retirement and transfer process. Specifically:-

She received a CETV of £261,782, after being denied the opportunity to take the transfer value of £278,928 that was initially quoted to her. She also missed out on the opportunity of potential investment returns on the higher transfer value.
The delays impacted her ability to draw down her benefits and caused her an exceptional level of distress.

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