Teachers’ Pension Scheme (PO-26616)

Ombudsman’s Determination

Outcome

The complaint is upheld against TP because it failed to put in place proper processes to conduct adequate checks and enquiries in relation to the LQPS and warn Mrs G of the potential consequences of transferring. 

Having considered all of the available evidence, I am satisfied, on the balance of probability, that but for TP’s maladministration, Mrs G would not have proceeded with the transfer. As a result, Mrs G has suffered the loss of her benefits within the TPS. 

To put matters right TP shall reinstate Mrs G’s accrued benefits in the TPS accounting for any revaluation that would have taken place since the transfer.

To avoid double recovery, if the new trustees of the LQPS, appointed by the Pensions Regulator (the Regulator), manage to retrieve some or all of Mrs G's pension fund for her benefit, and provide TP with satisfactory evidence that has happened, TP shall be entitled to recover that amount from Mrs G. 

TP shall also pay Mrs G £1,000 to reflect the serious distress and inconvenience that she has suffered as a result of the appropriate checks not having been made, and the appropriate warnings not having been provided. 

Complaint summary

Mrs G has complained that TP did not conduct sufficient due diligence checks when transferring her pension benefits from the TPS to the London Quantum Pension Scheme (the LQPS). Mrs G is unable to access her benefits from the LQPS.