“If any change in investment strategy was felt appropriate, this could reasonably have been achieved within the plan.
“It’s likely that the provider would have had a range of funds available which Torch could have recommended which would have met Mr S’s needs.”
Therefore, he concluded that Torch did not act fairly and reasonably when it advised Mr S to move his pension to the new Sipp.
Torch was ordered to pay Mr S for any losses that he has suffered, with the main costs occurring when the Sipp was originally set up.
It must also pay £300 for the trouble and upset caused.
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