Scottish Life says it is considering reviewing a “representative sample” of annuity sales following an investigation by Channel 4’s Dispatches.
The programme, which aired last night, highlighted the case of Frank Adams, a man with a £29,000 pension pot who was sold a single-life annuity by Scottish Life in 2005 – despite supplying a marriage certificate and his wife’s birth certificate with his annuity application. Adams died from cancer last year.
Scottish Life, which is owned by mutual insurer Royal London, agreed to put in place the pension that would have been payable to Adams’ wife had her husband bought a joint-life annuity, backdated to December 2012.
Royal London head of corporate affairs Gareth Evans says Scottish Life could review a sample of annuity sales but believes Adams’ case was a one-off.
He says: “We think this is a one-off and we accept our administration should have been better.
“We may look at a representative sample of annuity sales but we have not come across any cases of this nature before.”