HSBC (UK) Pension Scheme (PO-14899)
Complainant: Mr Y
Complaint Topic: Death benefits
Ref: PO-14899
Outcome: Upheld
Respondent: 1. ReAssure Ltd (ReAssure) - formerly HSBC Life (UK) Limited
2. Transact
2. Transact
Type: Pension complaint or dispute
Date:
Ombudsman’s Determination
Outcome
Mr Y’s complaint is upheld against ReAssure, but not against Transact. To put matters right, ReAssure should pay £500 compensation to Mr Y, for the significant distress and inconvenience that has been caused to him.
My reasons for reaching this decision are explained in more detail below.
Complaint summary
Mr Y’s complaint about ReAssure (the ceding scheme) and Transact (the receiving scheme), is that they both contributed to delaying the transfer of his funds, which resulted in financial loss to him.
View determination
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