Royal London Annuity · CAS-29884-P4H1

CAS-29884-P4H1

Ombudsman’s Determination Applicant Mr D

Scheme Royal London Annuity (the Annuity)

Respondent Royal London (RL)

Outcome

Complaint summary CAS-29884-P4H1

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Adjudicator’s Opinion

Mr D did not accept the Adjudicator’s Opinion and the complaint was passed to me to consider. He provided his further comments which do not change the outcome. Mr D said:-

The reasons that have been given by RL for not meeting his request to pay the Annuity into his bank account have been “lies” and “excuses”.

He does not agree that there is any prohibitive policy document, or preventative legislation to stop RL paying the Annuity into a bank account in his name only. 4 CAS-29884-P4H1 At no point had RL outlined specifically, that paying the Annuity into a bank account in his name only would fail the HMRC audit requirements.

He considered the POA provided a clear instruction so this should satisfy any HMRC audit requirements.

It was not appropriate for the Adjudicator to introduce “commercial decision making” which had never been argued previously.

He and Mr G had spent considerable time and effort trying to resolve matters and had met the expense of providing the POA to RL. They have both been significantly distressed dealing with this matter following Mrs D’s death.

I note the additional points raised by Mr D, but I agree with the Adjudicator’s Opinion.

Ombudsman’s decision

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Anthony Arter

Pensions Ombudsman 15 October 2020

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Appendix Extract from Section 172 of Finance Act 2004

Unauthorised member payments

Assignment

(1) Subsection (2) applies if a member of a registered pension scheme (or the member’s personal representatives)- assigns or agrees to assign (a) any benefit, other than an excluded pension, to which the member (or any dependant, nominee or successor) has an actual or prospective entitlement under the pension scheme, or (b) any right in respect of any sums or assets held for the purposes of any arrangement under the pension scheme. (2) Unless the assignment or agreement is pursuant to a pension sharing order or provision, the pension scheme is to be treated as making an unauthorised payment to the member (or to the member’s personal representative in respect of the member).

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