Personal PensionAug 15 2013

B&CE main products receive 14 complaints

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Its B&CE EasyBuild Stakeholder Pension received 11 complaints and its unit trust received three.

BC&E said that its findings coincided with publication of the Pension Advisory Service annual review, which revealed that 4500 complaints were made in the year to the end of March 2013.

BC&E also said that the Pensions Ombudsman had received almost 3000 complaints in the period 2012/2013, according to its annual report, published last month.

It added that figures released by the FCA earlier this year had shown that three other pension providers had received more than 6000 complaints each from July to December 2012.

Jamie Fiveash, director of customer solutions for B&CE, said: “Even though we have far fewer complaints than our competitors this does not mean we are complacent. It is important that our customers receive a low-cost, high-quality product. We are constantly looking at ways to improve the service they receive.”

Jason Witcombe, director of Evolve Financial Planning in London, said: “I would be hesitant to draw conclusions from these statistics as they depend on a number of other factors.

“The number of complaints in the financial services industry is atrocious. It shows how important it is to have a trusted relationship, as even if things go wrong, they can be addressed without the matter escalating to a complaint.”