Windsor still tied up on pension transfers
Windsor Life has again come under fire from advisers after a client who had been waiting three months for a pension transfer died before his annuity payments started.
Bank of Scotland Annuity Service head Kevin Pacey says a transfer request was made in early December but three months later no payments have been received and the client died last week.
Pacey says Bosas did not receive any communication to say Tomorrow's pension pipeline business would be transferred to Swiss Re-owned Windsor Life last year.
Pacey says: "It is undermining our relationships with our clients because we do not know whether they are receiving payments or not. We have had to write to all our clients and ask them if they are receiving money."
Manson financial services director Harris Frazer says: "It has been an absolute nightmare. One of my clients who has been waiting 50 days for a transfer was convinced that she had a Northern Rock on her hands and that they had lost all of her pension."
A Windsor Life spokeswoman says: "The majorityof the in-force portfolio of Tomorrow has recently been transferred to Windsor Life's systems. This was a highlysuccessful transfer but wecontinue to face a fair degree of backlog.
"We have been experiencing an exceptionally high volume of queries from IFAs and policyholders while some of our employees are also becoming more expert with the newer systems.
"We have implemented additional call-centre capacity to ensure we return to our normally excellent levels of service as quickly as possible."