Pension complaints are on the increase

The
number of complaints about company pension schemes rose by almost 20 per cent
last year, according to the Pensions Advisory Service (Opas).

Opas
called on the pensions industry to take steps to raise service standards all
round, after figures in its annual report for 2003/4 showed complaint cases
during the year totalled 8,006, up from 6,703 in 2002/3.

The
number of complaints directly attributable to poor administration, such as
errors, delays, or misquotations, accounted for 30 per cent of the total cases
dealt with – a further substantial increase on previous years.

Malcolm
McLean, chief executive at Opas, said: “A culture seems to be developing where
quality and good customer service are considered dispensable in the
ever-persistent quest to drive down costs.

“This
is short-sighted, and scheme members are entitled to expect more from their
schemes. We would like to see this trend reversed with an emphatic raising of
standards all round."

By Daniel Thomas

Comments are closed.