The issues surrounding Letters of Authority are very important. I haven’t done much to help so I’m not listed but I am a supporter of Pension Lab and its efforts to improve the consumer experience. This blog will hopefully add more weight to Pension Lab’s campaign.
You can download Pension Lab’s paper here
You can read it here
yourLO
What’s the problem?
Why does this matter?
The manual processes that still support LOAs use human resource, consumes paper and bends the backs of posties throughout Britain. The financial impact is immense and mostly unnecessary.
There are a number of technical innovations that can reduce the LOA pain but , as Scott Phillips, founder of the campaign to set things right , points out, the fuel for action must be to better satisfy customer’s reasonable expectations.
If we think that it is acceptable to people with pension savings to have to go through LOA pain to collate, analyse and combine their pensions , then we have almost certainly not had to do it.
