View more on these topics

Back-book causes backlog at ‘overloaded’ Windsor

Windsor Life has apologised after admitting its admin systems are struggling to cope with an increase in business following the transfer of Tomorrow’s pension back-book in December.

Romilly Associates IFA David Stealey says Windsor Life’s systems have been “absolutely overloaded with administrative problems”. He says some policyholders are not getting their pensions while advisers and clients have been unable to get through on phone lines.

A Windsor Life spokesman says the transfer of the back-book has been successful but the company is experiencing a “modest” backlog.

He says: “We have been experiencing an exceptionally high volume of queries from IFAs and policyholders while some of our employees are becoming more expert with the newer systems. We are using colleagues from other parts of the business to ensure we clear this backlog as quickly as possible.

“It would be inappropriate for Windsor Life to comment on any specific cases but we are sorry that complaints have proved necessary and are investigating them thoroughly according to our usual processes. We will provide appropriate redress on complaints upheld in policyholders’ favour.”

Recommended

Jonathan Willcocks

M&G managing director of UK sales Jonathan Willcocks got his first taste of financial services in the booming 1980s during a break from his medical studies.

Offer to securitise £12.5bn of Rock loan

Royal Bank of Scotland, Barclays and Citigroup have offered to securitise £12.5bn of the Bank of England’s emergency loan to Northern Rock.

Protection business buoyant after software deals

Direct Life & Pensions’ new business figures for January leapt by 64 per cent from the same time last year.It received 7,100 proposals compared with 4,300 in January 2007.The firm signed deals with several companies in 2007 to provide its Intelligent Protection software, including Network Data, Aberdein Considine, Motley Fool and Dunfermline Building Society.The software […]

KPMG appoints new financial services relationship partner

KPMG has appointed Simon Ranger as financial services relationship partner. He will be responsible for the firm’s key UK and international insurance clients. Ranger will be based in London and will report to Jeremey Anderson, European head of financial services. He joins from Deloitte where he was head of financial services business development and was […]

Childcare - thumbnail

Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com