SIPPMar 28 2024

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

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Network to pay out after Fos finds Sipp transfer not 'appropriate and suitable'
Mrs L alleged that her pension plan was transferred into a Sipp without her authority and that the transferred funds were held in cash (Unsplash/Nick Fewings)
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The Financial Ombudsman Service has upheld a complaint against The On-Line Partnership Limited after it found a transfer to a self-invested personal pension was not “appropriate and suitable in the circumstances”.

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