📄 File Note

Title: 2025_06_24_Undervalue_of_Pension_Fund

Date: 24 June 2025

Author: Gary Wrighton

Recipient: XPS Administration / Capita Hartshead (past administrator)

Type: Email correspondence

Location in Playbook:

• 5. Key Correspondence
• 7. Financial Evidence

📌 Summary:

Gary raises a formal query to XPS regarding the undervaluation of his pension fund at the time of transfer from the Kier Pension Fund to NZ Endeavour QROPS. He provides the transfer value (£40,218.59 on 26 May 2015) and questions the validity of the reported £1,801.90 value stated in a Castle Trust statement dated 15 July 2016.

He highlights that this undervaluation—over £38,000 difference—cannot be reconciled as a typical market fluctuation and believes it points to possible mismanagement, misreporting, or fraud. Gary questions whether XPS (successor to Capita Hartshead) has a duty to investigate or disclose who the receiving agent was and whether due diligence on the IFA was undertaken.

📂 Attached Evidence:

Undervalue_of_Pension_Fund.eml

🧭 Action Points:

• Ensure this email is linked in both the Key Correspondence and Financial Evidence pages.
• Cross-reference this discrepancy with Castle Trust records and IFA documentation.