Adviser lashes out at Abbey Life over service levels
Story by: Gareth Shaw, FTAdviser
An adviser has branded his treatment by life assurance and pensions specialist Abbey Life as "farcical" after the company took almost two months to supply details of retirement benefits for his client.
Financial advisers are not convinced their clients' retirement planning is on course, according to a Prudential poll.
Authority investigates investment options for nationwide scheme scheduled to come into force in 2012
Further pension transfer transgressions similar to those that saw AWD Chase de Vere hit with a record £1.12m fine are likely to emerge at other IFA firms, according to a prominent IFA.
The total number of pensions-related complaints the Financial Ombudsman Service (Fos) received during the last financial year declined by 9 per cent – largely as a result of Serps complaints falling by a third.
MetLife has reconfirmed its commitment to the UK declaring US stress-tests it has undergone prove it will not have to beat a hasty retreat like competitor The Hartford.
Dr Ros Altmann has claimed the whole UK pension system has been a giant bet on the stock market, with new approaches to pension planning and investing now required.
Standard Life has written to almost 7,000 policyholders of unit-linked pension plans, after they were sent incorrect statements for seven years.
Complaints about personal and occupational pension policies climbed to nearly 8,000 in the year to the end of March, due to poor service by providers.
Greater incentives are now needed from the government to encourage people to plan for their retirement years and save appropriately following pensions reforms included in the Budget, according to Friends Provident.
The concoction of longevity, the A-Day simplification and the pending personal accounts all adds to the retirement planning melting pot.
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Martin Tilley, business development manager for Dentons Pension Management, speaks to Girlie Garduce about the changing face of pensions and how proof is in the pudding when it comes to treating customers fairly.
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