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Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4527
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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HelloI would be grateful for your advice with the following

Resolved Question:

Hello
I would be grateful for your advice with the following financial problem. I have several separate policies with the Wesleyan society who have been looking after me financially for the last 5 years . I had thought I had a pension policy with them , taken out as a single premium 3 years ago . These are online accounts which together with their annual booklet of account statements confirms the policy as progressing well , & in view of this I have organised my life & spending on the assumption that I would receive the benefits from this policy .
I was dismayed earlier this week to find all mention of this pension policy missing from my online account & on enquiry I was told that I had been credited with this money in error .
I am 64 & admit to being a very poor record keeper . I had thought that the annual statement booklets sent out were confirmation of this policy . If this is indeed an error & I am unable to prove the policy is mine , do I have any form of redress as loss of this money will have huge implications for my retirement at the end of this year .
I would welcome your advice .
Diane Dockrell
Submitted: 2 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 2 years ago.
Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

I believe there is some terrible misunderstanding somewhere. I agree that you can certainly believe the annua lstatement booklets as being proof of the policy.

However, there can be some another error as well due to which they appear "missing". Even if the accounts are online, I believe you should send out an written communiation to the policy issueing company and demand an explanation to this. By doing this, you also need to rule out if you have been mis-sold the policy by not revealing certain facts.

If you still have your grievance not attended, you can certainly file an complaint with the Financial Ombudsman. Kindly refer the following link which is an excellent resource by itself.

http://www.financial-ombudsman.org.uk/consumer/complaints.htm


I believe this should take care of your issues.

I am sure this would help,

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards
Customer: replied 2 years ago.

For Rakhi Vasavada

Thank you for your reply . I certainly intend to make a written complaint . However I have already received an online reply to my verbal enquiry saying that the money was credited to me in error . I would expect a formal written reply to give the same answer & my question for you is how to proceed after that . Essentially this is one persons word against another , & what I need to know is if the possession of the 2 annual statement printed booklets is sufficient proof that the policy is mine .

What do you advise ?

Regards

Diane

Expert:  Rakhi Vasavada replied 2 years ago.
Dear *****,

Hello and welcome. Thank you for your reply.

In my opinion, replying to your verbal query is one thing and reacting to a formal complaint is another. I would strongly suggest you to proceed with formally filing a complaint as suggested in my first / original reply. I am sure you will have a responsible reply / action from the other side.

Yes, I am sure that the possession of the annual statemetns is sufficient proof that the policy is yours.

I wish you good luck.

I am sure this would help,

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4527
Experience: Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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