Hogan Lovells

Key Dates

Determination dated 8 December 2017 (PO-10431).


Summary

Ms N transferred benefits in a personal pension plan (PPP) to the NHS Pension Scheme (the "Scheme").  It was later discovered that the transfer had been accepted in error as the benefits transferred had already crystallised under the PPP.

When the error was discovered two years after the transfer, the manager of the Scheme repaid the amount transferred but did not provide compensation for investment loss. Ms N complained to the Pensions Ombudsman.

The Ombudsman held that it was for the Scheme (as receiving scheme), not the transferring scheme, to ensure that the acceptance of a transfer in was done in accordance with the Scheme regulations and statute.  The Scheme manager was directed to compensate Ms N for the loss of investment return on her PPP funds, on the assumption that she would have kept them invested in the same funds with the PPP provider had the transfer not been made.

The Ombudsman declined to order compensation to cover fees Ms N had paid to a complaints management service.  Ms N had not needed to incur this cost since she had been aware that free assistance was available from TPAS.
 



Date Accessed: 03/12/2021