Treating Customers Fairly
The Financial Services Authority expects all firms to be able to clearly demonstrate how they consistently treat their customers fairly.
Just Retirement was established to provide effective retirement solutions for customers by putting their interests first. We do this, in part, by ensuring that all customers are made fully aware of their rights to exercise the Open Market Option so that they get an opportunity to access a better retirement income.
Our principles
When any customer takes out an annuity or equity release product with Just Retirement, there are certain key criteria we always meet, including:
- Providing clear and effective documentation which outlines the decisions they are making and their implications.
- Working with and supporting advisers with clear, readily understandable products that are focussed on the retirement market.
- The products we provide perform in the way that the customer expects.
- Our service is of the highest standard, from the point of application and through our ongoing communications with advisers and customers.
- Customers clearly know who to contact in case of a query or complaint.
This approach ensures that customers receive the products and services they expect from a specialist retirement provider. It also ensures that we do all we can to support you through the advice process, helping you to have the confidence that your sales are compliant.
The industry view
Each year the ABI runs an annual Customer Impact Survey to measure how well life and pension companies treat their customers. This year, 34 companies took part and a total of more than 20,000 customers were contacted.
As part of the survey, we are proud of the positive feedback we received about the care and attention that we provide to our customers. You can therefore be confident that you are recommending a company which puts the fair treatment of your clients at the heart of what we do.
Our key results are outlined in the table below:
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Key satisfaction indicators
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Customer focus
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Customer advocacy
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Industry reputation
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| |
Overall quality of product/ service
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Overall satisfaction with product purchased
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'Really cares about its customers'
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'Is easy to do business with'
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‘Treats customers fairly’
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Likely to recommend
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Excellent industry reputation
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| JR 2009 |
75% |
64% |
89% |
95% |
94% |
68% |
48% |
| JR 2008 |
70% |
60% |
86% |
94% |
95% |
69% |
55% |
Key:
Just Retirement’s score falls within the top 25% of the industry scores
Just Retirement's score falls within the top 50% of the industry scores
Useful Links
http://www.fsa.gov.uk/Pages/Doing/Regulated/tcf/index.shtml
www.tcfinfo.co.uk
the ABI’s customer impact site www.customerimpact.org