The complainant had been contributing to an additional voluntary contribution plan (AVC) for 11 years prior to her retirement. She made a complaint against the insurer who invested the funds, and the broker who administered the plan, about the administration service, advice, the rate of investment return she had received over the term and the ultimate value of the AVC fund.

On investigation, the Pensions Ombudsman found that while the errors that had occurred - such as a delay in producing, and incorrect details on, benefits statements - were irksome, they had not caused her any financial loss.

She could not be deemed to have suffered a financial loss because her AVC fund was less than the various quotations and projections had assumed it might be, he ruled.

The factors that most affected the maturity value of the complainant's AVC fund were the investment choices she made, the shortened term of her contributions and the timing of her retirement.

The complaint was not upheld.