‘Errors’ at AVIVA Life & Pensions

It would appear that there is no end to ‘errors’ being uncovered at AVIVA Life & Pensions. The following is a list the type of ‘errors’ that have surfaced in the last 6 months :

29th June 2010 -

We have identified an error in relation to how tax provisions for net funds were accounted for...The number of units on your policy was calculated incorrectly. As a result, your unit holding was understated.

29th October 2010 -

We have undertaken a review of claimed pension policies and have identified an error...The policy was eligible for a bonus, which was not included in the calculation of the policy value. The claim amount was understated as a result of this error.

20th December 2010 -

We have identified an error where the Guaranteed benefit and/or Guaranteed bonus were incorrect on your pension policy, following an alteration. As a result, the benefits and/or bonus were understated.

What is truly remarkable about these errors is that they are not specific to any single company that went to make up the AVIVA company. The June ‘error’ was in respect of a Hibernian Life policy, October was a CGNU policy and December was a Norwich Union policy.

The ‘understatements’ / ‘errors’ for the above policies have had a monetary value of between €9 and €6,400. I haven’t been informed as to whether any ‘errors’ identified by AVIVA Life & Pensions were overstated, in favour of the clients.