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Broadstone questions whether the pensions ombudsman's latest decision will help trustees |
The Pensions Ombudsman’s latest summary of three suspected pension liberation cases suggest that where there is not rock-solid evidence of the receiving scheme not being a registered scheme, the statutory right transfer exists and it must be honoured.
Broadstone Pensions Director John Newman says:
That these latest determinations by the Pensions Ombudsman do not help Trustees and those running pension schemes. He says:
“In working closely in conjunction with us, all our clients are determined to protect their members from pension scams but these latest decisions will make this harder, and could be seen as a hindrance to carrying out their duties in a diligent manner.” He added: “The Pensions Ombudsman has applied the law, so is it now time to change the law?”
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