Prudential is to compensate a member of its own pension scheme after it processed his open market option (OMO) annuity purchase at the wrong time, reducing his total purchase sum.
The complainant, Mr Ayre, reached the end of his 23-year plan on 1 April 2011. The Pru sent him a vesting quotation in February which said the fund value would be £122,991 with a pension commencement lump...
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