Reassure Personal Pension Plan (PO-21509)

Ombudsman’s Determination

Outcome

Dr Y’s complaint against ReAssure is partly upheld, but there is a part of the complaint I do not agree with. To put matters right for the part that is upheld, ReAssure shall pay Dr Y £1,000 for the serious distress and inconvenience this matter has caused him.

Complaint summary

Dr Y’s complaint against ReAssure is that it provided incorrect information in relation to the amount of Lifetime Allowance (LTA) that would be used up by purchasing an annuity using his benefits in the Pension. He says had it provided correct information, he would have transferred his benefits to a drawdown plan instead.