The FOS has told Prudential to compensate a customer £250 for causing him "trouble" and "distress" after failing properly to administer his address during a pension-planning process.
According to the Financial Ombudsman Service (FOS) decision, Mr G completed a form in November 2016 notifying Prudential of his intention to take his pension benefits once he turned 75. Confusion over his correct home address followed between him and his adviser and Prudential. Upholding the complaint, the FOS concluded the delay caused to the payment of Mr G's pension was due to Prudential not updating his address details. The investigator said this caused Mr G a great deal of stress, and said Prudential should pay him £250 in compensation. Prudential disagreed with the adjudicator'...
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