Jurisdiction(s):
United Kingdom

Pensions Ombudsman: non‑guaranteed retirement quote maladministration; reliance unreasonable; no benefit uplift contrary to rules; £1,000 distress award; mitigation required

Published on: 01 August 2024

Published by a LexisNexis Pensions expert

Legal News

Table of contents

Original news
Summary
What were the facts?
What was the Pensions Ombudsman’s decision?
What is the impact of this determination?

Article summary

Summary

The Pensions Ombudsman partly upheld a complaint concerning an inaccurate retirement quotation. Depending on the erroneous figure was unreasonable, as it was not guaranteed and had been issued more than a year before the complainant left by reason of redundancy, notwithstanding his asserted reliance. He had also failed to mitigate any loss by seeking other employment or deferring the start of his pension. However, the Scheme was directed to pay the member £1,000 in compensation for significant distress and inconvenience. The Ombudsman’s decision serves as a reminder that complainants’ reliance on wrong information must itself be reasonable.

What were the facts?

Mr S was a deferred member of the Husqvarna Pension Scheme (the Scheme). In February 2018, he received a non-guaranteed pension estimate from the Scheme’s pension manager...

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