Leafield Retirement Plan (PO-11450)

Ombudsman’s Determination

Outcome

Mrs S’ complaint is upheld and to put matters right Fast Pensions should provide a full written response to Mrs S’s questions regarding the status and security of the Plan.  They should also clarify her right to access her pensions fund and any penalties that apply, and assist her in exercising her statutory right to a transfer if she so wishes.  Fast Pensions should also pay Mrs S £1,000, to reflect the significant distress and inconvenience caused to her by their maladministration.

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

Complaint summary

Mrs S complains that Fast Pensions failed to respond to her enquiries about the status and security of the Plan, and provide her with the information she requires to determine if she can access her pension fund at age 55 under the new pension freedoms, or transfer her pension fund to a different provider.