Around 12,000 pensioners were left without annuity payments this week due to technical problems at Legal & General, according to The Independent.
An L&G spokeswoman told the newspaper it was a “one-off” glitch which would not affect its other 650,000 annuity customers.
Some may have to wait until Tuesday for their payment, says the insurer, although it hopes most people will be paid this morning.
L&G says it will compensate any customers incurring any extra costs or bank charges.
Speaking to The Independent, the spokeswoman says: “This is a one-off event just affecting customer payments due on 21 February. No other annuity customer payments are affected.
“We regularly make payments to over 650,000 customers and have been doing so for over 35 years. This is the first time we’ve not been able to make payments on time.”