SIPP  

Network to pay out after Fos finds Sipp transfer not 'appropriate and suitable'

The ombudsman added that, if there was a loss, On-Line Partnership should pay into Mrs L’s pension plan with the new provider, to increase its value by the amount of the compensation and any interest.

If On-Line Partnership was unable to pay the compensation into Mrs L’s pension plan, it should pay the amount directly to her.

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Additionally, the network was told to pay Mrs L £200 for the distress and inconvenience it has caused her and provide the details of the calculation to Mrs L in a “clear simple format”.

On-Line Partnership was contacted for comment.

tom.dunstan@ft.com

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