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FSAVC Complaint Advice

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optimist_2
optimist_2 Posts: 64 Forumite
in Pensions, annuities & retirement planning
I currently have a complaint lodged with my FSAVC provider. I know there is a very good section on this website concerning the misselling of endowments, and a link to the Which? website. Is there anything similar for FSAVCs? In particular, how do I work out how much I am actually owed?

Thanks!

Comments

  • dunstonh
    dunstonh Posts: 119,548 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    1 - why do you think you were mis-sold?
    2 - you dont get any compensation. If they agree you were mis-sold they will pay any redress into the pension.

    A few years ago, FSAVCs were seen as the weakest option (unless you fitted the positive points). Nowadays they are seen as the better option than AVC as legislation has changed and made them more favourable than AVCs.

    FSAVCs were not wholesale mis-sold in the same way endowments were so there are no templates to use or guides to read. If you have a complaint, you should tell the truth.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    There was an official FSA industry review into FSAVC misselling, as it was widespread. So they should look into it and provide redress without you having to argue the case.
    Trying to keep it simple...;)
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