Trafalgar House Pension Trust (CAS-46319-F4L6)

Ombudsman’s Determination

Outcome

I do not uphold Mr E’s complaint and no further action is required by the Trustee.

Complaint summary

Mr E has complained that:-

· The Trustee did not give him adequate information or notice that, after attaining his Normal Retirement Age (NRA) of 65 in March 2019, he would have to pay a fee of £1,000 plus VAT of £200 for a recalculation of the cash equivalent transfer value (CETV) available to him from the Trust.

· He was consequently denied an opportunity to complete the transfer of his pension rights from the Trust before his NRA in order to avoid paying this fee which he considers to be extortionate.