FOS finds against Towry in trivial commutation ruling

As a result, the complainant claimed she was unable to take her full pension fund at age 55, as she had planned, and had effectively been forced to purchase an annuity. The ombudsman ruled the adviser was unaware of a change in legislation that only permitted triviality payments to be made after age 60. "There is evidence the adviser gave the wrong information to Mrs A and, as a result, the recommendation was not suitable for her needs. "Mrs A always wanted to be able to take the benefits from her plan as a lump sum and would not have taken the pension plan if she had been made awa...