Santander Retirement Plan (PO-12995)

Complainant: Mr Y

Complaint Topic: Misquote/misinformation

Ref: PO-12995

Outcome: Not upheld

Respondent: 1. JLT Employee Benefits (JLT)
2. Santander (UK) Group Pension Scheme Trustees Limited (the Trustees)

Type: Pension complaint or dispute

Date: 27 June 2017

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

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

Mr Y has complained that:

prior to leaving Santander Bank in 2015, he was “advised” by JLT (the Plan Administrators), that he could remain in the Plan indefinitely. Mr Y believed a verbal contract was entered into meaning he could remain in the Santander Global Equity Fund, which is only available under the Plan;
he has received a poor level of customer service. JLT offered Mr Y £100 for the distress and inconvenience caused which has been declined;
if the Trustees refuse his request to remain in the Plan, then he wants the Trustees to pay for financial advice to obtain a recommendation for a suitable replacement pension policy; and
if the charges are likely to be higher on any new pension policy he wants to be compensated for the difference over the full term of the Plan.

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