Ombudsman rules Standard Life must reconsider 'suspected liberation transfer request'

However, Tony King issued a "serious note of caution" to the member over his "unorthodox" intention to transfer, which was at least "high risk" and could leave him financially poorer at worst. Lawyers have pointed out that King relied on the law governing transfer requests, and called for a change in legislation to help protect members. King (pictured) found the insurer had the discretion to pay the transfer value from the self-invested personal pension (SIPP) even though there was no statutory right to transfer. The ruling forms part of three determinations on transfer requests to...