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United Kingdom

Pensions Ombudsman: no legal basis for delayed transfer; maladministration found; reg 10 interest only; £2,000 distress award; investment loss claim rejected (Ms N, CAS-74047-R0M5)

Published on: 19 September 2025

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

Original news Ms N (CAS-74047-R0M5)—26 May 2025

Summary

The Pensions Ombudsman found in favour of a complainant over a delayed pension transfer. She was awarded redress for significant distress and inconvenience. However, no payment was made for financial loss, as the Ombudsman was unconvinced about how she would have invested the proceeds, and because applying statutory interest to the transfer would have produced a figure below the actual transfer value. The outcome serves as a reminder that, in pension transfer delay cases, a member must demonstrate and quantify any financial loss...

What were the facts?

Ms N was a member of the BNLA (Citibank) Unit Linked Executive Pension Plan (the ‘Scheme’). Her former husband, Mr N, was a trustee director of the Scheme...

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