Pensions Matter: case law round-up
Harvey (PO 1394) Bulk Transfer delay causes financial loss to a member
The Deputy Pensions Ombudsman (DPO) partly upheld a complaint from a member that he suffered financial loss due to his pension fund being transferred outside of a 10-day transfer window, which had been agreed under a bulk transfer. The member was also unhappy that the funds were sent via cheque rather than electronically and complained accordingly.
As mentioned, the DPO partly upheld the complaint; however the DPO held that the respondent’s offer of paying the member’s loss, on the basis that his funds were transferred and invested with the incoming pension provider seven days after his transfer request, was reasonable under the circumstances.
The DPO also held that given the funds were calculated to have been invested the day after the deemed investment date (seven days from the date the claim form was issued) the member had not suffered any additional detriment than if the funds had been transferred electronically…
Click on the link below to read the rest of the Walker Morris briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Walker Morris
News from The Lawyer
Briefings from Walker Morris
What’s coming up: the major cases, government policy changes, and litigation and dispute resolution legislation to look out for in 2015
We know that it is important for businesses to be aware of upcoming legal and regulatory changes, so that they can plan ahead. View Walker Morris’s summary of some of the key upcoming decisions in major cases, changes to government policy and forthcoming legislation relating to litigation and dispute resolution in an easy-to-use table by clicking the link below: http://www.walkermorris.co.uk/whats-coming
The answer is yes, if they were not created as part of a genuine attempt to settle an existing dispute.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
The law school war shows no signs of ending. But we have, perhaps, reached the end of the beginning.