The Pensions Ombudsman has reported the Green Coal Limited Occupational Pension Scheme to the Pensions Regulator with concerns over the “status of the scheme”, after upholding a complaint against it.
A client dubbed Mr E complained to the ombudsman that he had not been provided with any information on his pension for a year.
Previously employed by the Royal Air Force, Mr E was a deferred member of the Armed Forces Pension Scheme, which transferred £20,824 at his request in December 2013 into the Green Coal scheme.
In July 2016, Green Coal, the administrator of the scheme, was dissolved. Despite writing to the company in February 2017, Mr E received no reply and then complained to the Pensions Ombudsman.
The complainant asked for the pension to be recovered so he could transfer it to a more reliable scheme.
In his determination, Pensions Ombudsman Anthony Arter said Green Coal’s failure to provide Mr E with information on the status and security of his pension was “a serious regulatory breach”.
Mr Arter ordered Green Coal to provide Mr E with an up-to-date statement on his plan and copies of documents that it had previously issued.
The administrator was also required to pay the transfer value to the named arrangement within 28 days of the request, and to pay Mr E £3,000 for the exceptional distress and inconvenience caused to him.
Mr Arter said: "I have concerns in relation to the status of the scheme.
"TPO will report Mr E's complaint to The Pensions Regulator; it might wish to carry out its own investigations into Green Coal Limited and the scheme."