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Airdrie Savings Bank Pension Scheme (CAS-42076-Y7C6)

Complainant: Mr N
Complaint Topic: Administration
Ref: CAS-42076-Y7C6
Outcome: Partly upheld
Appeal outcome: None
Respondent: Phoenix Life Ltd
Dalriada Trustees Limited
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Outcome

Mr N’s complaint against the Trustee is partly upheld. To put matters right, the Trustee shall pay Mr N £500 for the significant distress and inconvenience he has experienced. 

No further action is required by Phoenix. 

Complaint summary

Mr N complains that: - 

  • Phoenix and the Trustee provided him with poor customer service in their interactions with him. He asserts that this caused him to suffer anxiety, which was instrumental in his decision to transfer from the Scheme, as he believed his benefits in the Scheme were at risk. He would like to be reimbursed for the fees he paid to his financial adviser (IFA), in relation to the transfer of his benefits. 

  • The cash equivalent transfer value (CETV) of his benefits was incorrectly calculated, and he has incurred a financial loss as a result. 

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