Phoenix Life Personal Pension Policies (PO-2640)

Subject

Mr Hinge’s complaint, which is against Phoenix Life, is that over the period 2010 to 2013:

1. The normal retirement age (NRA) under the policies he had with them was incorrectly shown as 75 and not 60, and they failed to correct this.
2. As a consequence of 1 above, the information about the values of the policies was based on an NRA of 75 and not 60.
3. Phoenix failed to contact him regarding the change by more than 5% in the transfer value for policy no TI001627.
4. There were delays generally in replying to his questions and complaints since 18 May 2012 onwards.
5. There was a lack of information regarding the rebate of management charges.
6. Failed to provide bid prices as at 4 April and 29 May 2012.
7. There was a delay in the payment of the transfer value for policy no TI001627.

The Deputy Pensions Ombudsman’s determination and short reasons

The following parts of Mr Hinge’s complaint against Phoenix should be upheld but only to the extent of non-financial injustice he has suffered:

• the NRA under the policies with them was incorrectly shown as 75 and not 60;
• the transfer values of the policies were incorrectly based on an NRA of 75 and not 60;
• general delay by them in replying to his queries since 18 May 2012;