Mercer Master Trust (CAS-69606-X4Y3)

Ombudsman’s Determination

Outcome

I do not uphold Mrs B’s complaint and no further action is required by the Trustee or the Administrator.

Complaint summary

Mrs B complained that the Administrator did not inform her that she could only take two income drawdown withdrawals from the Trust per tax year (the Restriction). Mrs B also complained that the Administrator incorrectly informed her that the Restriction was standard practice among pension providers. Mrs B contends that because of these issues, she experienced an unnecessary tax charge of over £90,000.