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Legal Update

Pension transfers – Ombudsman comments on trustee duties

August 2018
Mayer Brown Legal Update
The Pensions Ombudsman has decided that a scheme administrator’s failure to send the Pensions Regulator’s pension fraud warning leaflet to a member requesting a transfer, and to carry out due diligence checks on a receiving scheme which turned out to be a suspected scam vehicle, amounted to maladministration. The Ombudsman ordered the administrator to reinstate the member’s benefits in the transferring scheme.

Authors

  • Ian Wright
    Partner
    T +44 20 3130 3417
  • Jay Doraisamy
    T +44 20 3130 3031
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