The Aviva Self Invested Personal Pension Plan and the Aviva Commercial Property Investment provided by Curtis Banks (CAS-51876-F7Y0)

Ombudsman’s Determination

Outcome

Mr T’s complaint against CB is partly upheld. To put matters right, CB shall pay Mr T £1,000 in recognition of the serious distress and inconvenience he has experienced as a result of its maladministration.

Complaint summary

Mr T complained that:- 

• CB was responsible for the disconnection of the electricity supply (the Supply) to the commercial property investment (the Property) held by the Sub-Plan. As a result of the disconnection of the Supply, the shutters to the Property could not be operated and potential tenants and buyers were lost because they were unable to view the Property. 

• The Sub-Plan lost potential rental income for the period while the Property was without power. Mr T estimated this loss to be £18,632 based on an annual rental valuation of £80,000. 

• He experienced years of continuous problems with CB and was left with no option but to sell the Property and move his pension away from them. The assets of the Plan have been transferred to Mattioli Woods plc and Mr T argues that CB should reimburse him for the transfer costs of £1,074.