Complaint summary

Mr Darlaston complains that IPS failed to keep accurate records of three overseas property investment deposits held in the SIPP and consequently overvalued the SIPP fund for the purposes of calculating the retirement benefits available to him. He alleges that IPS:

Complaint Summary

Mr Colin Lloyd, Ms Palmer and his two sons complain that due to delays on the part of Fidelity in effecting “in specie” transfers of their SIPP investments to Charles Stanley between November 2013 and July 2014 they have been unable to trade during the period in question and consequently have each suffered a financial loss.

Mr Colin Lloyd and Ms Palmer also contend that they have suffered further financial loss through payment of higher SIPP charges to Fidelity during the protracted transfer process.

Complaint summary

Mr Gaughan has complained that Teachers’ Pensions, the administrator of the Scheme, provided incorrect information concerning the value of his transfer into the Scheme.

Summary of the Ombudsman’s Determination and reasons

The complaint should be partially upheld against Teachers’ Pensions because it provided misleading information to Mr Gaughan which resulted in significant distress to him and a loss of expectation.

Complaint Summary

Ms Bennett has complained that:

• she should have been advised of the option of a pension transfer from her previous pension arrangement when she started employment with Chester & Halton Community NHS Trust in 2000; and
• she should have been informed that there was a time limit of 12 months for her to make an application for a transfer on public sector transfer club (Transfer Club) terms; and
• NHSBSA has failed to allow her a transfer calculated on Transfer Club terms.

Ombudsman’s Determination and reasons

I do not uphold Mr W’s complaint and no further action is required by Holstein or the Trustees.

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

Complaint summary

Mr W’s complaint is that Holstein and the Trustees refused to allow him to transfer his entitlement from the Scheme.

Ombudsman’s Determination

Outcome

I agree that part, but not all, of this complaint should be upheld. To put matters right NHS BSA should pay Ms P £500 in recognition of the distress and inconvenience caused by providing misleading information in their email of 29 April 2015.

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

Ombudsman’s Determination

Outcome

Mr N’s complaint is upheld and to put matters right Mattioli Woods plc should pay redress to Mr N as directed.

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

Complaint summary

Mr N has complained that Mattioli Woods failed to ensure that three pieces of land he intended to purchase through the SIPP were not transferred despite the fact that they have applied annual charges and valuations of the land.

Ombudsman’s Determination

Outcome

Mrs N’s complaint is upheld and to put matters right SPPA should pay redress to her as set out in my directions below.

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

Complaint summary

Mrs N has complained that SPPA provided incorrect information to Old Mutual Wealth, when she transferred her benefits, which resulted in a delay in the investment of her funds and a loss of £5,685.

Ombudsman’s Determination

Outcome

I do not uphold Mr N’s complaint and no further action is required by the Trustees.

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

Complaint summary

Mr N’s complaint against the Trustees is that:

• they moved his benefits from the Plan to the Master Trust without his consent;
• they ignored his recent request for information; and
• the transfer value from the Plan to the Master Trust was incorrect.

Ombudsman’s Determination

Outcome

I do not uphold Mr K’s complaint and no further action is required by Teachers’ Pensions

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

Complaint summary

Mr K’s complaint is about how Teachers’ Pensions handled his request to transfer his entitlement from the Scheme. He says that he started the transfer out process in 2014 and owing to the problems he experienced, he will not now be able to transfer without an unauthorised payment charge being levied.