Liverpool Victoria pensions promise

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Liverpool Victoria pensions promise

Fri 15th Feb 2008

Liverpool Victoria has announced that it will guarantee Pensions Commencement Lump Sum payment within seven working days, or it will pay £1,000 worth of compensation to customers.

This represents a four-fold increase on the amount of compensation previously offered under the Tomorrow common, which Liverpool Victoria acquired and re launched under its own brand in January 2008.

The new guarantee has also been extended to cover the company's Discretionary Management option and Fund Supermarket SIPP, and will apply to all applications received at its office between January 1st 2008 and June 30th 2008.

Rodney Cook, managing director of the Liverpool Victoria Life and Pensions business, said: "When all formal documentation has been received by us there is absolutely no reason why clients cannot have their tax-free cash paid within seven working days."

He added that the company wanted to "make a statement to the market" about its own "service excellence" and "administration capabilities".

Liverpool Victoria launched its flexible retirement solutions business on January 7th 2008.

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