Reassure Stakeholder Pension Plan · CAS-83021-F1Y0

CAS-83021-F1Y0

Ombudsman’s Determination Applicant Mr M

Scheme ReAssure Stakeholder Pension Plan (the Plan)

Respondents ReAssure

Outcome

Complaint summary

Background information, including submissions from the parties In May 2004, Mr M joined the Plan which was then with Legal & General.

On 7 September 2020, the Plan was transferred as part of a bulk transfer of pension plans from Legal & General to ReAssure.

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“I understand the reason for your complaint is that we did not communicate our requirements to you, which in turn led to your pension contributions not being applied to your pension policy. I realise our error has caused you inconvenience. So, to say sorry, I’ve arranged for a cheque for £150 to be sent to you. Finally, I’ve passed on your comments and the findings of your complaint to the relevant team managers to avoid this happening again in the future.”

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• The Plan is complex and each time the contributions change a manual intervention is required.

• It is currently applying premiums from October 2020 to April 2021 to Mr M’s Plan account. The contributions will be backdated to the date they were received. So, Mr M will not suffer any financial loss.

• While Mr M’s account is being updated, he will not have access to his account. It appreciated the frustration this would cause, but it would restore access as soon as possible.

• It would revisit its original award of £150 for distress and inconvenience and it said it would provide an updated amount later that day.

Caseworker’s Opinion

ReAssure did not accept the Caseworker’s Opinion and the complaint was passed to me to consider. ReAssure provided its further comments which do not change the outcome.

3 CAS-83021-F1Y0 ReAssure said that:

• All contributions would be backdated and invested on the date that they were received.

• It accepted that there had been maladministration that would have caused Mr M distress and inconvenience, but it did not agree that the distress and inconvenience warranted an award of £1,000. It said that it was of the view that the award should have been £500.

I agree with the Caseworker’s Opinion and note the additional points raised by ReAssure.

Ombudsman’s decision

Directions

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(iv) arrange for Mr M to have access to his account forthwith.

Anthony Arter

Pensions Ombudsman 17 November 2022

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Appendix Date Employee Employer Invested in the Scheme contributions contributions

1 September 2020 to 30 September 2020 £111.63 £209.31 Yes

1 October 2020 to 31 October 2020 £98.46 £184.61 Not invested

1 November 2020 to 30 November 2020 £98.46 £184.61 Not invested

1 December 2020 to 31 December 2020 £98.46 £184.61 Not invested

1 January 2021 to 31 January 2021 £98.46 £184.61 Not invested

1 February 2021 to 29 February 2021 £98.46 £184.61 Not invested

1 March 2021 to 31 March 2021 £98.46 £184.61 Not invested

1 April 2021 to 30 April 2021 £101.04 £189.45 Not invested

1 May 2021 to 31 May 2021 £101.04 £189.45 Not invested

1 June 2021 to 30 June 2021 £101.04 £189.45 Not invested

1 July 2021 to 31 July 2021 £101.04 £189.45 Not invested

1 August 2021 to 31 August 2021 £101.04 £189.45 Not invested

1 September 2021 to 30 September 2021 £101.04 £189.45 Not invested

6 CAS-83021-F1Y0 1 October 2021 to 31 October 2021 £101.04 £189.45 Not invested

1 November 2021 to 30 November 2021 £101.04 £189.45 Not invested

1 December 2021 to 31 December 2021 £101.04 £189.45 Not invested

1 January 2022 to 31 January 2022 £101.04 £189.45 Not invested

1 February 2022 to 29 February 2022 £101.04 £189.45 Not invested

1 March 2022 to 31 March 2022 £122.26 £229.23 Not invested

1 April 2022 to 30 April 2022 £105.52 £197.85 Not invested

1 May 2022 to 31 May 2022 £105.52 £197.85 Not invested

1 June 2022 to 30 June 2022 £105.52 £197.85 Not invested

1 July 2022 to 31 July 2022 £105.52 £197.85 Not invested

£2,358.17 £4,421.55 Total contributions to be invested

£111.63 £209.31 Less contributions invested

£2,246.54 £4,212.24 Total contributions not invested

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