I am sure you have probably experienced difficulties with the implementation of Pension Sharing Orders, and we certainly have had our fair share of troubles dealing with pension administrators over the years to ensure that they meet with the necessary deadlines and implement orders correctly.
The determination by the Pensions Ombudsman in this case carefully considers that the actions taken by the scheme administrators are timely, and finds that delays caused a financial loss to Mrs Boughton for which she has been compensated.
We have for a long time advocated that this is as complicated an area as preparing the analytical reports as to how to divide the benefits, and needs to be dealt with by specialist advisers, the implementation of a Pension Sharing Order.
This determination by the Pension’s Ombudsman highlights some of the difficulties that can be encountered, but is also a useful tool to use with Trustees to ensure that they do comply with the appropriate regulations, and to give them an indication of the potential penalties they will face if the matter ultimately ends with the Pension’s Ombudsman determination.
If you would like a copy of the Pensions Ombudsman’s determination then please let me know and I will arrange for a copy to be emailed to you.