2017 complaint
Mr W took the decision to move his pension to the Aviva cash fund in June 2016 as he was concerned about the company’s ability to look after his pension.
In 2017, he appointed an IFA to help him with his pension, who wrote to Aviva in April asking for information. Aviva failed to respond, so the IFA logged onto the account using details provided by Mr W.
The following month, the account was locked as Aviva said Mr W’s pension was not one that could be controlled by an IFA. As a result, neither Mr W nor the IFA could access the pension online.
Mr W complained in June 2017 and was offered £100. The compensation was not for locking the account but because Mr W had had to speak to a number of staff members to bring his complaint.
On 23 June 2017, Mr W transferred his pension away from Aviva without having taken any tax free cash.
He then complained to the insurer that he wasn’t able to access pension documents online after he closed his account, despite being told that he would be able to, and requested compensation for the investment loss he suffered while waiting to move his pension.
In August 2017, Aviva disagreed that it was responsible for any delays but offered £150 in compensation for the way it handled Mr W’s complaint. Later that month, a further £100 was offered to compensate for the unnecessary and confusing letters it sent to Mr W.
Ombudsman decision
An investigator for the FOS determined that Aviva did not need to pay for Mr W’s investment loss and that Aviva’s offers of compensation – totalling £350 for the 2017 complaints – were fair.
Mr W disagreed, and the matter was passed to an ombudsman.
The ombudsman, Mark Hutchings, concurred with the investigator. “I don’t think Aviva were responsible for any delays or investment loss.”
“I haven’t seen that Mr W asked to move his pension or take any lump sum until 6 June 2017 – his pension was transferred later on that month.
“Mr W says it took this long to find an IFA he was confident with and I’ve seen his IFA first contacted Aviva in April 2017. I don’t think Aviva are responsible for the time Mr W’s pension was in the cash fund until then, as it was Mr W’s choice to find an IFA in the time he took.”
Hutchings also agreed that the £350 compensation on offer was fair.
