Barclays Standard Life SIPP (CAS-37994-X1V8)

Ombudsman’s Determination

Outcome

I do not uphold Mr N’s complaint and no further action is required by Barclays or AJ Bell.  

Complaint summary

Mr N’s complaint is that he is unable to close his SIPP because it holds illiquid funds which cannot be sold, meaning that it will be subject to ongoing fees. The administrator’s process requires him to leave £500 in the account to cover fees. Mr T says this is unfair. 

Additionally, he experienced poor service from Barclays and the administrator, both of which caused delays in responding to his complaint. On occasions when he telephoned to chase matters, he was passed between Barclays and the administrator, and often he had to wait on the telephone line for a considerable period of time before a member of staff became available to speak with him.