Civil Service AVC Scheme (PO-21127)
Ombudsman’s Determination
Outcome
I do not uphold Mr Y’s complaint and no further action is required by Scottish Widows.
Complaint summary
Mr Y says that Scottish Widows switched his additional voluntary contributions (AVCs) into its loss making Building Society Fund, which is closed to new investors, without his authority.
He was not provided with information on the fund, including the expected rates of return and past performance. The risks associated with investing in the fund were also not explained to him.
View determination
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