Lindab Limited Group Stakeholder Pension Plan · CAS-82642-K3R2

CAS-82642-K3R2

Ombudsman’s Determination Applicant Mrs Y

Scheme Lindab Limited Group Stakeholder Pension Plan (the Plan)

Respondent Royal London

Outcome

Complaint summary

Background information, including submissions from the parties

‘I am thinking of transferring my pension benefits to The Barclays Bank UK Retirement Fund. Please give all the relevant information to Willis Towers Watson.’

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On 24 December 2020, Royal London received a request for transfer information from WTW. This mentioned previous requests of 16 September 2020 and 11 November 2020, but Royal London did not have a record of the previous requests on file.

On the same day, Royal London also emailed WTW to chase a response to its email of 24 March 2021, which contained the general information pack. It confirmed that it had only been in receipt of WTW’s letter of 24 December 2020 and email of 9 March 2021.

On 30 June 2021, WTW sent an email to Royal London which appears to have not been received. In this email it explained it had written to Royal London on 16

2 CAS-82642-K3R2 September 2020, 11 November 2020, 28 January 2021, 9 March 2021 and 6 May 2021 and requested transfer information for Mrs Y. It requested an update on the transfer quotation and when this would be sent.

On 7 July 2021, WTW sent Royal London an email which attached a copy of its email of 30 June 2021.

On 11 August 2021, Mrs Y contacted Royal London and raised her concerns about delays to the transfer.

On 13 September 2021, Royal London received a postal paper transfer request from WTW.

On 3 October 2021, Royal London emailed WTW as the request received was incomplete. It said the signed documents did not include the Plan number and requested for Mrs Y to send it a signed declaration which included the Plan number to allow the transfer to proceed.

On 6 October 2021, Mrs Y emailed Royal London and said she had already sent a signed declaration the previous year. She said WTW had also sent a copy to Royal London the previous year. Mrs Y made a formal complaint to Royal London as her transfer request had still not been completed.

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Following the complaint being referred to The Pensions Ombudsman (TPO), Mrs Y and Royal London have made further submissions that have been summarised below.

Summary of Royal London’s position:-

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Adjudicator’s Opinion

• Royal London was unable to proceed with the transfer until Mrs Y had provided it with a written instruction to transfer her pension benefits. Although Mrs Y had written the Plan number on a signed instruction of 8 September 2020, this was only for information purposes and not a formal transfer request.

• Although Royal London received a paper transfer request by post on 13 September 2021, it did not contain the required information to proceed with the transfer as the Plan number was not included. It requested for Mrs Y to send a signed declaration with the Plan number in order for the transfer to proceed.

• While there were delays, Royal London could only proceed with the transfer once a valid transfer request had been received on 8 October 2021. Once this had been received Royal London carried out the transfer promptly on 11 October 2021. It was therefore the Adjudicator’s opinion that there had been no maladministration by Royal London.

• The Adjudicator was of the view that Mrs Y did not suffer a financial loss as the funds were not disinvested by Royal London until the date of the transfer, so she benefited from the increased value of the funds.

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Ombudsman’s decision

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I do not uphold Mrs Y’s complaint, and no further action is required by Royal London.

Dominic Harris

Pensions Ombudsman 29 July 2025

7 CAS-82642-K3R2 Appendix Pension Schemes Act 1993

Section 99 (2) - (2ZA)

Trustees' duties after exercise of option

(1) Where —

(a) a member has exercised the option conferred by section 95; and

(b) the trustees or managers of the scheme have done what is needed to carry out what the member requires,

the trustees or managers shall be discharged from any obligation to provide benefits to which the cash equivalent related except, in such cases as are mentioned in section 96(2), to the extent that an obligation to provide such guaranteed minimum pensions . . . continues to subsist.

(2) Subject to the following provisions of this section, if the trustees or managers of a scheme receive an application under section 95 they must do what is needed to carry out what the member requires—

(a) in the case of an application that relates to benefits other than money purchase benefits, within 6 months beginning with the guarantee date shown in the relevant statement of entitlement, . . .

(b) in the case of an application that relates to money purchase benefits [other than collective money purchase benefits], within 6 months beginning with the date of the application, and

(c) in the case of an application which relates to money purchase benefits that are collective money purchase benefits, within 6 months beginning with the date of the application or such longer period beginning with that date as may be prescribed.

(2ZA) Subsection (2) does not apply if the trustees or managers have been unable to carry out what the member requires because a condition prescribed by regulations under section 95(6ZA) has not been satisfied.

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