Why the pensions liberation determination was not the one we needed

The ombudsman's early determinations will be particularly important for schemes as they set a precedent for how liberation cases will be dealt with, which could help scheme managers and trustees in deciding whether to allow transfers to suspect schemes.

Will Mr X get his money back?

Today's case concerns 'Mr X', a former member of the NHS Scotland Pension Scheme, who transferred his pot of almost £370,000 to the Capita Oak Pension Scheme on the promise of an 8-12 per cent investment return.

He later asked to transfer out of the new scheme but the trustee, Imperial Trustee Services, did not respond to attempts to communicate.

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