Financial Ombudsman ServiceMay 13 2024

Phoenix Life to pay out over pension shortfall mistake

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Phoenix Life to pay out over pension shortfall mistake
Phoenix Life mistakenly only transferred £154,717.16 of a £162,729.68 pension leaving a shortfall (Photo: Nataliya Vaitkevich/Pexels)
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The Financial Ombudsman Service has upheld a decision against Phoenix Life after it failed to transfer the full value of a client's pension to their new provider which incurred further costs.

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Pensions
Phoenix Group Holdings PLC
Tax
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