Aviva Section 32 Policy (PO-13991)
Complainant: Mrs R
Complaint Topic: Interpretation of scheme rules/policy terms
Ref: PO-13991
Outcome: Not upheld
Respondent: Aviva
Type: Pension complaint or dispute
Date:
Ombudsman’s Determination
Complaint Summary
Mrs C has complained that Aviva has refused to pay a 3% per annum compound escalation rate on her policy, from its maturity date, which she says was agreed at the outset.
Summary of the Ombudsman’s Determination and reasons
The complaint should not be upheld against Aviva because:
- The policy expressly provided for the escalation element to be withheld if the policy did not accrue sufficient value to meet the guaranteed minimum pension.
View determination
DownloadRelated decisions
- Universities Superannuation Scheme (CAS-50740-F3M5 and CAS-38376-G3P7)Complainant: Professor MRespondent: Universities Superannuation Scheme LtdOutcome: Not upheldComplaint Topic: Interpretation of scheme rules/policy termsRef: CAS-50740-F3M5 and CAS-38376-G3P7Date:
- HSBC Bank (UK) Pension Scheme (CAS-43565-P2H7)Complainant: Dr HRespondent: HSBC Bank Pension Trust (UK) Limited (the Trustee)
Willis Towers Watson (WTW)
Outcome: Not upheldComplaint Topic: Interpretation of scheme rules/policy termsRef: CAS-43565-P2H7Date: