New Model Adviser - For Professional Investors

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

L&G annuity glitch hits 12,000 pensioners

L&G annuity glitch hits 12,000 pensioners

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.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Comment & analysis