Hbos Final Salary Pension Scheme · CAS-77463-Q7D3

CAS-77463-Q7D3

Ombudsman’s Determination Applicant Mrs I

Scheme HBOS Final Salary Pension Scheme (the Scheme)

Respondent Willis Towers Watson (the Administrator)

Complaint Summary Mrs I’s complaint concerns the delays she experienced in relation to the transfer of her benefits from the Scheme and the reinvestment of the transferred value. She asserts that she has incurred a financial loss as a result of the delays and that she has also suffered distress and inconvenience.

Summary of the Ombudsman’s Determination and reasons

Detailed Determination Material facts

Mrs I was an active member of the Scheme, which is an occupational defined benefit pension arrangement.

In January 2021, Mrs I requested from the Administrator an indicative cash equivalent transfer value (CETV) illustration of her benefits in the Scheme. The Administrator informed Mrs I that, as it had previously issued a CETV illustration to her within the last 12 months, she would have to pay a fee of £300 to have another CETV illustration.

On 4 February 2021, Mrs I emailed the Administrator and confirmed that she had paid the £300 fee. She asked the Administrator to post the CETV illustration to her home address and to also send it by email. She also asked the Administrator to confirm that it had actioned her request and to provide an indication of when she would be sent the CETV illustration.

On 5 and 8 February 2021, Mrs I telephoned the Administrator for an update on her request. During these telephone calls:- 1 CAS-77463-Q7D3

“… I am looking to transfer my pension out (I am actually doing this in unison with my colleague...) as part of a ‘block’ transfer so that I can retain the right to draw down from 50 (instead of the usual 55) should I wish.

Could you please confirm that you have received and actioned my Opt-out request detailed on the attached?

Advise when I can expect my Leavers Pack (particularly interested in the final page which I understand is the transfer out request that guarantees my CETV)?

Is it possible to receive a hard and soft copy of the Leavers Pack so that I can return the transfer put [sic] request immediately as we are working to a very tight timeline with our financial adviser…”

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1 The Administrator explained that had Mrs I’s request been dealt with under the normal scenario, her request for a guaranteed CETV illustration would not have been sent to the Actuary until 18 March 2021. 2 Mrs I signed the transfer documents on 27 March 2021.

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4 CAS-77463-Q7D3 “I trust the above will be welcome news. I will leave your complaint open on our files to monitor the progress and ensure you do not experience any further delays, however if you have any queries please do not hesitate to contact us.”

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3 Mrs I provided her calculation of her loss and this amounted to £33,981.33.

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Mrs I lodged her complaint with the Pensions Ombudsman on 3 September 2021.

Summary of Mrs I’s position

Summary of the Administrator’s Position

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Conclusions

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4 https://www.legislation.gov.uk/ukpga/1993/48/section/99

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I find an apology was sufficient in the circumstances, and do not consider that the Administrator should make an award to Mrs I for the poor service it had occasionally provided to her.

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Anthony Arter CBE

Deputy Pensions Ombudsman 23 April 2024

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