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Aviva Section 32 Policy (PO-13991)

Complainant: Mrs R
Complaint Topic: Interpretation of scheme rules/policy terms
Ref: PO-13991
Outcome: Not upheld
Respondent: Aviva
Type: Pension complaint or dispute
Date:

Ombudsman’s Determination

Complaint Summary

Mrs C has complained that Aviva has refused to pay a 3% per annum compound escalation rate on her policy, from its maturity date, which she says was agreed at the outset.

Summary of the Ombudsman’s Determination and reasons

The complaint should not be upheld against Aviva because:

  • The policy expressly provided for the escalation element to be withheld if the policy did not accrue sufficient value to meet the guaranteed minimum pension.

View determination

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