Aviva refund

xylophone

https://forums.moneysavingexpert.com/discussion/comment/69982863#Comment_69982863

This will run and run....

The three policies are covered in post 107 ( see also post 1) and 119 https://forums.moneysavingexpert.com/discussion/5245197

I don't quite understand the reference to "carelessness" with the policies.

agarnett

I can guess what thebullsback means with carelessness.

Aviva already apologised at least once for an incorrect letter and the language of the original letters posted about is far more about what Aviva and the customer cannot do than what the hell the contracts are meant to do.

Typical financial services gobbledegook.

Are you surprised that the questions and client uncertainty runs and runs? I am not - unlike the OP, I now have four Aviva pension policies and haven't touched any of them, yet the gobbledegook runs and runs. Every year more gobbledegook. If you thought you understood it last year, then bully for you, because chances are you won't recognise what they write about it next year because the style and type of info given will be different and the letterheads almost certainly will be.

The one good thing for the OP although not for the country at large, is that for £19,000 way back when, the dear old NHS let the OP buy 7½ years worth of NHS pension entitlement. The OP surely hit the jackpot there!

For me, four assorted Aviva policies will come home to roost soon, none of which were ever chosen by me, so Aviva will very very soon have to tell me in plain language exactly how they think it's all going to work, and that's when they'd better watch out, the crooks.

So far with six months to go they seem to think they can write to me about just one of the four with a CETV seemingly plucked from thin air, a fund value that appears to be 35% less, oh and of course a threat that they may apply one of their arbitrary reductions in the future. Oh and of course that one came with around half a kilo of pre-printed booklet of irrelevant FCA tosh with a couple of pre-printed booklets of tosh of their own, none of which will ever be useful to anyone - and no doubt they will duplicate the tosh with each of the other three when they get around to writing about those - the world's trees won't be increasing in number any time soon, that's for sure.

It is quite clear that thousands of soon to be pensioners (tail end baby-boomers like me) may expect similar tosh to drop through their letterboxes over the next few years. We represent perhaps a shadow of the boom in terms of these "DB replacement policies" which in the main represent distant pension promises by earlier employers further barstewardised by providers like Aviva. Of course outfits like Aviva were behind the original DB pensions via fund management outfits like their Morley, so the other thing that runs and runs is their snouts in our troughs.

So yes, there will be plenty to get your teeth into xylophone if you can interpret between the lines of what MSE'ers dare tell you. I think there is a real fear amongst some who come here that if they do release too much information, they might receive less than the best of a bad deal from their provider - the provider communications are so numerously careless and arbitrary that a deliberate reduction aimed against one policyholder would not be discernible from the norm by anyone other than a forensic investigator!

woolly_wombat

thebullsback wrote: »

As a financial nerd how can I be sure Aviva has not been careless with the three policies i have with them now they own my funds original company Norwich union.

Are you referring to technical errors believed to date back to 2000 when Norwich Union and CGU policies were transferred to a central system and original terms and conditions were not applied correctly?

See:
http://www.thisismoney.co.uk/money/news/article-2554472/Four-million-savers-short-changed-Aviva-compensation-Insurers-323million-bill-merger-blunder.html

https://www.ftadviser.com/2014/02/21/opinion/tony-hazell/how-fsa-failed-consumers-over-aviva-blunder-8DErfySUNUI26jT2oXR4pM/article.html

Were you one of the estimated 780,000 policyholders due compensation?

Have you received notification from Aviva to that effect?

Apologies if this has been covered elsewhere.
.

woolly_wombat

agarnett wrote: »

I can guess what thebullsback means with carelessness.

.....

I think there is a real fear amongst some who come here that if they do release too much information, they might receive less than the best of a bad deal from their provider

Oh, some sort of gagging clause I assume.

OP, you may need to consult an IFA if you want to double check that what you are being offered is in accordance with original terms and conditions.
.

xylophone

OP, you may need to consult an IFA if you want to double check that what you are being offered is in accordance with original terms and conditions.

https://forums.moneysavingexpert.com/discussion/comment/69982863#Comment_69982863

This will run and run...:)

woolly_wombat

The only thing I would add is that my OH has an Aviva s32 buyout that was formally with Norwich Union.

He decided to leave well alone and wait for the GMP to kick in at 65.

The quoted transfer value was absolutely dreadful.