Leafield Retirement Plan (PO-15379)

Ombudsman’s Determination

Outcome

Ms M’s complaint is upheld, and to put matters right Fast Pensions should provide a full written response to Ms M’s questions regarding the status and security of the Plan. It should also clarify her right to access her pension fund and any penalties or restrictions that apply, and assist her in exercising her statutory right to a transfer out if she so wishes. Fast Pensions should also pay Ms M £1,500, to reflect the significant distress and inconvenience caused to her by its maladministration.

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

Complaint summary

Ms M 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 from age 55 under the new pension freedoms, or transfer her pension fund to another pension provider.