Phoenix Life Personal Pension (CAS-63759-L4H8)
Complainant: Mr R
Complaint Topic: Guaranteed annuity rate
Ref: CAS-63759-L4H8
Outcome: Not upheld
Respondent: Phoenix Life Limited
Type: Pension complaint or dispute
Date:
Appeal: No
Ombudsman’s Determination
Outcome
I do not uphold Mr R’s complaint and no further action is required by the Administrator.
Complaint summary
Mr R complained that he wanted to set up an annuity payable monthly in advance with the Plan funds. The Administrator said that as the Plan included a Guaranteed Annuity Rate (GAR) the annuity payment must be taken annually in arrears.
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