Utmost Personal Pension Plan (CAS-54844-H0X2)

Ombudsman’s Determination

Outcome

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

Complaint summary

Mr N complained about the Utmost Plan as follows:-

• He was not provided with details of the calculation used to determine the uplift of his Equitable Personal Pension Plan (the Equitable Plan) when it transferred from Equitable Life (Equitable) to Utmost.
• There was insufficient information to allow him to decide whether to retain the Utmost Plan or transfer his benefits to another provider.
• There was insufficient information about the new unit-linked Utmost Funds (the new funds) to allow him to decide in which funds to invest.

Mr N asked to see the calculation Utmost used to determine his uplift, and if it is incorrect, to be reimbursed the difference. He also wanted Utmost held to account for not providing him with sufficient information on the new funds.