View the article online at http://citywire.co.uk/new-model-adviser/article/a660657
L&G annuity glitch hits 12,000 pensioners
by Daniel Grote on Feb 22, 2013 at 07:28
Around 12,000 pensioners have been left without annuity payments after a computer glitch at Legal & General, The Independent has reported.
L&G said the error was a ‘one-off’ and would not affect its 650,000 other annuity customers.
It meant those due payments yesterday did not receive them, although L&G said it was hopeful most would receive their cash today.
A L&G spokeswoman told the paper it would recompense customers any extra costs or bank charges.
‘We regularly make payments to over 650,000 customers and have been doing so for over 35 years, This is the first time we’ve not been able to make a payment on time,’ she said.
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by William Robins on Apr 17, 2014 at 12:21