AJ Bell Investcentre SIPP (PO-16596)

Ombudsman’s Determination

Outcome

Mr R’s complaint is upheld, and to put matters right AJB shall compensate Mr R for his financial loss arising between 10 and 24 February 2017, by making an appropriate payment to his new pension plan.

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

Complaint summary

Mr R’s complaint against AJB, the manager of the Plan, is that it was partly responsible for the delay in the transfer of the Plan funds to another pension provider, James Hay Partnership (JHP), and he suffered a financial loss as a result of that delay.