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
Date:
Appeal: No
Ombudsman’s Determination
Outcome
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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