Yvonne was told she’d get a pension of £2,348 a year when in fact it was just £1,144: The painful blunders that insurers are getting away with.
Pensioners are having their retirements destroyed by basic administrative blunders caused by Britain’s biggest insurers.
Prudential wrongly told a woman she could take her entire pension pot as a tax-free lump sum — twice.
A man was told by that his pension pot was worth £763,300. He gave up his job believing he could afford to retire. In fact his pot was worth only £433,000. The insurer was ordered to pay him £250 for distress and inconvenience. The man was unable to get his old job back.