Stunell Condemns Pension provider who is Refusing to Pay Up

11.22.06am BST (GMT +0100) Tue 5th Apr 2005

A Marple resident is still waiting for compensation, over two years after the Financial Ombudsman Service ruled in his favour in a mis-selling claim against his pension advisor.

Mr Samuel has been trying to get Kings Associates to comply with the Financial Ombudsman's orders since September 2002.

Now local MP, Andrew Stunell has stepped in to raise the issue in Parliament.

Mr Stunell said:

"The regulator has made a clear decision in favour of Mr Samuel, requiring his pension advisors to compensate him.

"It is alarming that a pension company can break the rules and then flout a regulator's final decision.

"It may be that changes to the law are needed to close the loophole this case has exposed."

Mr Stunell and Mr Samuel are now waiting for a response from the Secretary of State for Work and Pensions, Alan Johnson.

ENDS

Notes to Editors

1. Mr Samuel is happy to discuss the case with the press. Please contact Andrew Stunell's constituency office on 0161 4067070 for details.