Consumers are made offers of amounts of money in a number of circumstances, including compensation for mis-selling of financial products, for below-par investment performance, or for loss of salary and pension benefits on unfair dismissal. They may also be presented with a pension sharing proposal on divorce. These are some of the common examples that Congruent sees, but there are others – there will also soon be compensation for unfair commission arrangements for motor finance.
Sometimes the amount offered can be significant for the consumer and they would like it checked independently. Few actuarial firms are able to offer this service* but Congruent takes pride in doing so.
* Advice in relation to a claim is a “regulated activity”, regulated by the Financial Conduct Authority. Congruent has been able to check compensation amounts for financial services and financial products for a number of years, but we are pleased to say that we are now able to check compensation amounts for employment-related claims (and we believe we are the first actuarial firm able to do this).
