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Adviser slams Alba Life for errors on drawdown plan

A Worcester IFA has criticised Alba Life over a catalogue of errors on a client&#39s income-drawdown plan.

IFA Williams and Williams associate director Angela Ryan claims her client, a 60-year-old retired engineer, has been plagued by a series of administrative blunders.

The problems started when Alba Life, formerly Britannia Life, paid the client double the amount of income on his drawdown plan for six months

The client called Alba in March to query the overpayments but he says no representative returned his call.

When the life office realised the mistake, it demanded the overpaid amount of £6,353 be repaid immediately, prompting the client to seek an overdraft with his bank.

Ryan says: “My client was distraught. This problem is not his fault and I am worried the stress could affect his health.”

Alba Life spokesman Alistair Kelly says: “The situation is an isolated administrative error. It took six months to recognise the mistake but we have taken the problem very seriously. Every effort was made to undo the mistake. We have agreed to compensate the client with one month&#39s extra payment.”


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