Pension fund switched funds

Hopefully I get the terminology correct here.

I have a occupational pension. I noticed that I was invested in different funds than I signed up for.

I contacted the administrators of the pension. They were aware of the change but had been told by the investment fund, that the investment fund would contact the pension holders. However they failed to do so.


So, my funds were changed without my knowledge or consent. This worries me considering the lifespan of the occupational pension.

I've lodged a complaint but haven't had a response. And from my understanding, there's little point in complaining to the pensions authority.


Is this normal behaviour by the fund?

Who did you lodge the complaint with?

In the first instance, it is the pension fund trustees who are responsible for the operation of the pension fund

I agree with jpd above. The scheme should have an internal dispute resolution process and you should follow that first.

Was it a case that some of the funds you were in were closed down by the fund manager and replaced by others? That happens from time to time. For example, Aviva have closed a number of their funds recently for various reasons. They were operating old Friends First funds as well as Aviva funds and there was duplication. So they closed some.

Or was it that the entire scheme was moved from one fund manager to another? That happens from time to time also. The scheme trustees can unilaterally choose to move the scheme without your consent, although they must act in the interest of the members at all times. It would be good practice to notify you, but you don't have a veto.

A lot of occupational pensions are moving to Master Trusts due to the increasing costs of regulation. This can cause a change to the default fund in your scheme.