Scottish Widows poor service

Annie1960

SallyG wrote: »

I got the cheque treatment as well - I'm torn about cashing it - because I seem to remember reading the Ombudsman won't compensate/?even consider a complaint from anyone already compensated by the provider complained against?
That makes the rapid application of small cheques to aggrieved customers a cost effective covert gag?
I hope I'm wrong - I can't find any reference to it now.

It depends on what they sent you a cheque for.

In my case, they offered me compensation for the fact it was taking me so long to get through to them, and their staff kept saying they would phone me back but didn't. That's all. They did this twice, and paid it directly into my bank account.

So if they have sent you a cheque, what does the covering letter say it is for?

jem16

kidmugsy wrote: »

This tale of woe explains why some people are prepared to stump up for Hargreaves Lansdown's superior service. I don't care for their floods of bumf, but wotthehell? I've found them highly competent, and helpful beyond the call of duty.

Those currently trying to transfer out of HL seem to be painting a rather different picture of HL's competency.

PeacefulWaters

SallyG wrote: »

I got the cheque treatment as well - I'm torn about cashing it - because I seem to remember reading the Ombudsman won't compensate/?even consider a complaint from anyone already compensated by the provider complained against?

You're in control. Accept the offer, bank the cheque and move on. Or return the cheque and tell them specifically what you want doing. If you're not happy with the response then the FOS is the next step.

The FOS will weigh up costs and inconvenience incurred by you and value that. There is the possibility you end up with the same value cheque but have to wait an extra six months for it.

That makes the rapid application of small cheques to aggrieved customers a cost effective covert gag?

You will either become an FOS complaint statistic or not. It's your choice. While you going to the FOS will cost the company money (if it gets past the initial screening) it won't change how the company works or draw an official rebuke from either the ombudsman or the regulator. You might get an increased offer before it becomes an official FOS statistic.

If you want to make a noise and damage the company's reputation, write to the press, post online and talk about it in the pub.

The FOS will simply rule on the validity and then value of your complaint.

SallyG

"Distress and inconvenience" Annie ..
looking back just about every interaction with SW was like being on the Cakewalk at Blackpool Pleasure Beach - disorientating.
By the way I got mixed up about the Ombudsman and complaints from people who had already been compensated by the provider - confused it with the FOS case - no-one accepting FOS/ombudsman compensation can then take their case to court in hopes of a "second bite of the compensation cherry".
http://www.moneymarketing.co.uk/news-and-analysis/regulation/harriet-quiney-adviser-victory-ends-legal-uncertainty/2006810.article

Must pay more attention.

Annie1960

SallyG wrote: »

"Distress and inconvenience" Annie ..
looking back just about every interaction with SW was like being on the Cakewalk at Blackpool Pleasure Beach - disorientating.
By the way I got mixed up about the Ombudsman and complaints from people who had already been compensated by the provider - confused it with the FOS case - no-one accepting FOS/ombudsman compensation can then take their case to court in hopes of a "second bite of the compensation cherry".
http://www.moneymarketing.co.uk/news-and-analysis/regulation/harriet-quiney-adviser-victory-ends-legal-uncertainty/2006810.article

Must pay more attention.

Distress and inconvenience is the same thing they compensated me for. But compensation is just for this, it is not the same as restitution, as pointed out in the article following the link you posted.

So you need to think about:
How much have they offered you in compensation for distress and inconvenience?

Do you think that is enough for the hassle you had trying to get through to them etc?

Restitution is a different matter. How much are your losses from their failure to act appropriately?

Annie1960

How are you getting on with your issue with SW, SallyG?

I received a letter from them this morning stating that they are still trying to sort out my complaint, and that they are enclosing a form for the Ombudsman should I wish to take my complaint there.

There was no Ombudsman form enclosed!

There was a different number at the top of the letter (an 0800 number, rather than the usual 0845), so I rang it and spoke to a named person, who was the person who had written to me.

I had a really constructive conversation with her.

The upshot is, she has been trying to get information from the relevant team at SW about the dates and what has happened, and she has been unable to get that information from them! Fortunately, I had much of the information so was able to enlighten her.

She offered to pay me:

1. A further £150 compensation for the nuisance;

2. She will talk to LV= about the annuity rates as this has gone down since I agreed to take their offer. She will then calculate the effect of this loss on my annuity for the next 20 years, and will pass an appropriate sum to LV= to put me back in the position I should have been in if SW had acted in a timely manner;

3. Something I had not though of, which is compensation at 8% for the fact SW paid my lump sum one month late.

She sounded as though she was really on top of the issue and the impact it would have on me, and I must say I felt much better having spoken to her.

Have you had any further resolution of your issue with SW?

countrygirl_jo

Just happened across this thread and it confirms my worst fears. Customer service at SW seems to be in melt down. I made an AVC last year - and I got no less than seven letters from them - all essentially the same, 'confirming' the investment or saying it was 'in progress' etc, across six months. Waiting on the phone - 30 minutes eventually - to get through to someone who actually told me completely the wrong thing about my contribution limits. Complained by letter and via the site...8 weeks have now gone by and all I get is letters apologising that it is taking them so long to respond. Yesterday they sent me details of how to go to the Ombudsman...I don't want to go to the Ombudsman, I simply wrote to ask them to stop sending me the same letter over and over.

Have also been in touch with them asking them to change my retirement date, and investment profile on my pension. 8 weeks...nothing.

I will now be moving my pension out and finding another...through frankly if my IFA can't get through to them either to make this happen, God knows how long that will take?

SallyG

Sorry Annie - missed your question - I banked their cheque - SW apologised for not explaining that pension pay day was the day they organised the payment - not the day it hit my account.
Of course .....how could it be otherwise?
Sorry about your troubles countrygirl - but it's consoling to find it's not just me -
I want out but I doubt I'll be able to do a transfer in drawdown without submitting to the IFA treatment......and then there's the new joining fee to consider, no way of knowing how good the new lot are until you've committed and no way of knowing what to invest in...................

dunstonh

I want out but I doubt I'll be able to do a transfer in drawdown without submitting to the IFA treatment.

But you are paying SW fees for doing what an IFA would do. You dont need an IFA to move a plan in drawdown.

no way of knowing how good the new lot are until you've committed

That is what an IFA is for if you dont want to do DIY. If you do want to DIY then that is part luck and part research.

and no way of knowing what to invest in............

Again, IFA or DIY. DIY needs research but no more than you need to do if you use SW. Unless you want to end up in one of their low quality multi-asset funds.

SallyG

http://www.telegraph.co.uk/finance/personalfinance/pensions/11002643/Is-pensions-meltdown-a-sign-of-things-to-come.html

"A spokesman for Scottish Widows said: “ We recognise our recent service levels have fallen short of our normal high standards and have increased our staffing levels and will continue to do so, with training programmes in place. ” "