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15th August 2018
:: Blog | January 2009 (12 blogs) | Pension transfer delays maladministration, says Ombudsman

 
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Pension transfer delays maladministration, says Ombudsman 
 
One of the most common causes of complaints dealt with by the Pensions Ombudsman is delays involving transfer values whether from defined benefit schemes or defined contributions schemes. In fact, as a TPAS adviser, I’ve got one on my desk right now. When I was talking to the pension scheme whom the complaint is against, I mentioned this recent case where the Ombudman has made an interesting determination including this general comment:
 
“I note in passing that…(the scheme administrator’s)…view that their liability is limited to any time taken beyond the six month maximum is not one that I share. If there was maladministration leading to delay, they would…be liable for it whether inside or outside the six month maximum.”
 
This has caused scheme administrators and trustees some consternation. And there’s further precedent issued more recently, but I’ll leave that for another day. See:
Mike Jones, MyCompanyPension.co.uk, 16th January 2009
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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