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Aviva Section 32 Buy Out Policy (CAS-37372-V4C1)

Complainant: Mr Y
Complaint Topic: Benefits: refusal/failure to pay or late payment
Ref: CAS-37372-V4C1
Outcome: Not upheld
Respondent: Aviva
Type: Pension complaint or dispute
Appeal: No

Ombudsman’s Determination


The complaint against Aviva is not upheld.

Complaint summary

Mr Y has complained:

  • that subsequent to his request for a cash equivalent transfer value (CETV) illustration from Aviva in July 2018, Aviva provided him with conflicting and contradictory information concerning the value of his benefits in the Policy;
  • about the poor investment return achieved by Aviva after his benefits reached the Guaranteed Minimum Pension (GMP) target, such that he will not receive 5% increases on his pension in payment and the age-based restrictions in accessing those benefits; and
  • that changes to the presentation of the annual reports made identifying these issues and making comparisons more difficult.

View determination


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