10 March 2008
Malcolm McLean, chief executive of the Pensions Advisory Service
(TPAS), has called on the pensions industry to reduce its use of
jargon. Mr McLean said: "It's time to sweep away patchy
administration and jargon. With jargon, it's not a question of
intelligence, it's a question of familiarity. Trivial commutation,
crystallisation event or Barber protection mean little to the man
or woman in the street."
More than a third of the 6,000 complaints handled last year by
TPAS were related to jargon, delays, incorrect payments and poor
customer service.
