Teachers’ Pension Scheme – Prudential AVC Facility (PO-5634)

Complaint Summary

Mr Moynihan complains that Prudential’s sales representative improperly persuaded him to pay additional voluntary contributions (AVCs) to Prudential. He also alleges that the sales representative did not inform him that he could purchase past added years (PAY) in the Teachers’ Pension Scheme.

Summary of the Ombudsman’s determination and reasons

The complaint should not be upheld against Prudential because I cannot find that Mr Moynihan could not have known, and was not told, about PAY and that if he had been told he would have bought PAY rather than Prudential AVCs.