UK - The pensions ombudsman has been told to cap compensation paid to scheme members for "distress" caused by maladministration at £1000.
The High Court judge set the limit when East Sussex County Council appealed against the ombudsman’s decision to award a scheme member £3000 a year – part of which included stress and inconvenience....
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
