JLT Benefit Solutions has been ordered to pay compensation after it delayed a scheme transfer and the member concerned died in the interim.
The case Ms J Jones v JLT Benefit Solutions was ruled on by the Deputy Pensions Ombudsman after the consultant delayed completing a scheme transfer request from Ms Jones’s partner, Mr Ingram, who died...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter