Springdale Retirement Plan (PO-12599)

Ombudsman’s Determination

Outcome

Mr N’s complaint is upheld and to put matters right Fast Pensions should provide a full written response to Mr N’s questions regarding his funds in the Plan, including the current value; and assist him in exercising his statutory rights.  Fast Pensions should also pay Mr N, £1,000, to reflect the distress and inconvenience caused to him by their maladministration. 

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

Complaint summary

Mr N complains that Fast Pensions failed to respond to his enquiries about the status and security of the Plan, leaving him unable to plan for his future and exercise his transfer rights.

Mr N says that he would like Fast Pensions to provide him with written information about his benefits in the Plan.  He also says he would like to either transfer his funds to another pension provider, or receive his benefits as a lump sum.