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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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I was 65 in August 2012 and under advice from my Financial

Customer Question

I was 65 in August 2012 and under advice from my Financial adviser he recommended i transfer my pension pot from Aviva to Canada life who were offering a better Annuity rate.
I completed all the documents on the 23rd of July and my I F A sent them to both pension companies and both received them on the 3rd of August. A delay took place so were i was due to receive my monthly pension in August i did not receive my first monthly pension till the 8th of November and because of the delay Canada lifes Annuity rates fell at the end of August resulting in my monthly pension lower than my original quote in July, as well as not receiving any pension at all until November. The pension i now receive is lower each month for the rest of my life plus i never received 2 months pension. My IFA blamed Aviva and it was refered to the Ombudsman and i have received his final decision which the sum he as ordered Aviva to pay is far less than i have lost it does not even cover my 2 months loss of pension , and does not compensate me for the drop in annuity rate which based on a life expectancy of 82 i am 17 years out of pocket
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.

Alex Watts : Hello my name is ***** ***** I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply.
Alex Watts : What is the value if your loss please?
Customer:

Approx £520 - 2 months loss of pension, and approx £90 a year drop in annuity rate based on a17 more years life expectancy = £1530 + the £520 total £2050 less £222.63 + £100 for distress awarded against Aviva , my shortfall is £1727.37

Alex Watts : You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
Alex Watts : If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.
Alex Watts : The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
Alex Watts : If the matter is defended it will be set down for a trial. If the claim is for £10,000 or less it will be a small claim and you will not need representation.
Alex Watts : Can I clarify anything for you about this today please?
Customer:

Thank you for your advice, which of the 3 parties do you suggest i send the recorded delivery letter to, would it be pointless sending it to Aviva

Customer:

Thank you for your advice, which of the 3 parties do you suggest i send the recorded delivery letter to, would it be pointless sending to Aviva based on the Ombudsman saying this was is final decision. I would have thought that Aviva would use his document in court.Just reading a sentence in the Ombudsmans letter, it says Mr F [ meaning me ] had a financial adviser who could have promted Aviva if information had been requested which was then not provided and which might jeopardise any plans for Mr f

Customer:

He appears to say that the IFA is at fault for not providing enough information

Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
Ash and 4 other Law Specialists are ready to help you
Expert:  Ash replied 2 years ago.
I would sue all parties and let the court worry about who is liable,

Alex

Customer: replied 2 years ago.

 


 


Thank you once again , i am in the process of compiling a letter based on your advice. this as been going on for nearly 2 years , i should have gone down this path sooner. do i have to say this matter is closed now because i feel sure your advice as put me in the right direction to settle my greivance, the daunting part for me was who to chase. ALAN

Expert:  Ash replied 2 years ago.
Yes I understand, have a good weekend,

Alex

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