Decade of delays: Friends Life pays sick retiree's annuities late for ten years

Laura Miller
clock

An exasperated Friends Life pension customer is taking his case to the Financial Ombudsman Service (FOS) after what he said is a decade of poor service from the life company.

David Grothier claimed Friends Life has for the last ten years repeatedly failed to pay his four annuities taken out with the firm on time. The delay means £5,000 - which is supposed to be paid twice a year on 1 April and 1 September - often doesn't reach Grothier's account until weeks later. He is then forced to resort to borrowing money from his bank in lieu of receiving his pension payments. Grothier, who retired to Spain due to poor health, said he is "under medical care daily" and is suffering from the stress of uncertainty around his annuity payments. He said Friends Life ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Defensive income before retirement: A four layered framework

Defensive income before retirement: A four layered framework

Entering decumulation can be an unsettling time for clients

Joe Simpson
clock 10 August 2026 • 4 min read
The FCA's decumulation challenge: Can UK REITs help deliver sustainable retirement income?

The FCA's decumulation challenge: Can UK REITs help deliver sustainable retirement income?

A look at the three Ss of retirement income

James Peel
clock 04 August 2026 • 7 min read
What the decumulation shift means for advice firms, and how the best are responding

What the decumulation shift means for advice firms, and how the best are responding

'Technology is part of this picture in ways that are worth being honest about'

Andy Zanelli
clock 14 July 2026 • 4 min read