The Semex Group Personal Pension Plan (PO-28689)

Ombudsman’s Determination

Outcome

I do not uphold Mr M’s complaint and no further action is required by Prudential.

Complaint summary

Mr M has complained that he was not informed by Prudential, his employer, or the selling agent, that charges would be deducted from his pension fund. He says that Prudential should have had a system in place to ensure he was fully informed of the charges that would be applied to his pension fund.

He also says that Prudential should not have allowed excessive or disproportionate charges to be applied to his pension fund. Further, the annual charges should have been made clear within the annual statements sent to him by Prudential.