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    • Yes, Hotpoint UK has been a subsidiary of Whirlpool for over 20 years. And unlike some domestic goods manufacturers you can buy from them direct and I believe they employ their own service engineers, Is that your situation? You bought direct from Hotpoint and Hotpoint sent out their own engineer?
    • It's Hotpoint (but I believe they're part of the Whirlpool group now?). The part was bought direct from them as a consumer.
    • Thanks BankFodder for your latest, I'm in complete agreement on the subject of mediation and will be choosing to decline mediation, the longer timeline is not an issue for me, I will happily let the going to court run it's course. I really appreciate the support from the Consumer Action Group. I'll post the email text I'm sending to Evri's small claims in answer to their recent defence response. Regards, J    email text I'm sending to Evri's small claims in answer to their recent defence response:  
    • Sec127 (3) repealed, now gone. S. 127(3)-(5) repealed (6.4.2007) by Consumer Credit Act 2006 (c. 14), ss. {15}, 70, 71(2), {Sch. 4} (with Sch. 3 para. 11); S.I. 2007/123, art. 3(2), Sch. 2
    • We used to recommend that people accept mediation but our advice has changed. The mediation process is unclear. Before you can embark on it you have to agree that you are prepared to enter a compromise – and that means that you agree that you are prepared to give up some of your rights even though you are completely in the right and you are entitled to hundred percent of your money and even though EVRi are simply trying to obstruct you in order to discourage you and also to put others who might want to follow your example off from claiming and even though they have a legitimate basis for reimbursement. Mediation is not transparent. In addition to having to sign up that you are prepared to give up some of your rights, you will also have to agree not to reveal any details of the mediation – including the result of the mediation – so that the whole thing is kept secret. This is not open justice. Mediation has nothing to do with justice. The only way of getting justice is to make sure that this matter goes to trial unless EVRi or the other parcel delivery companies put their hands up and accept the responsibility even if they do it is a gesture of goodwill. Going to trial and winning at trial produces a judgement which we can then add to our small collection to assist other people who are in a similar boat. EVRi had been leading you around by the nose since at least January – and probably last year as well – and their whole purpose is simply to drag it out, to place obstacles in your way, to deter other people, and to make you wish that you'd never started the process and that you are prepared to give up your 300 quid. You shouldn't stand for it. You should take control. EVRi would prefer that you went to mediation and if nothing else that is one excellent reason why you should decline mediation and go to court. If it's good for them it's bad for you. On mediation form, you should sign that you are not prepared to compromise and that you are not prepared to keep the result secret but that you want to share the results with other people in similar circumstances. This means that the mediation won't go ahead. It will take slightly longer and you will have to pay a court fee but you will get that back when you win and you will have much greater satisfaction. Also, once you go the whole process, you will learn even more about bringing a small claim in the County Court so that if this kind of thing happens again you will know what to do and you will go ahead without any hesitation. Finally, if you call EVRi's bluff and refuse mediation and go to trial, there is a chance – maybe not a big chance – but there is a chance that they will agree to pay out your claim before trial simply in order to avoid a judgement. Another judgement against them will simply hurt the position even more and they really don't want this. 300 quid plus your costs is peanuts to them. They don't care about it. They will set it off against tax so the taxpayer will make their contribution. It's all about maintaining their business model of not being liable for anything, and limiting or excluding liability contrary to section 57 and section 72 of the consumer rights act.     And incidentally, there is a myth that if you refuse mediation that somehow it will go against you and the judge will take a dim view and be critical of you. This is precisely a myth. It's not true. It would be highly improper if any judge decided the case against you on anything other than the facts and the law of the case. So don't worry about that. The downside of declining mediation is that your case will take slightly longer. The upside is that if you win you will get all your money and you will have a judgement in your favour which will help others. The chances of you winning in this case are better than 95% and of course you would then receive 100% of your claim plus costs
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Cashing in a Pension Pot at 55 to buy a house while on benefits


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I know we will have to pay tax and see a financial advisor but I have also been advised that it will not affect our state pension.

 

I just don't understand which of the two amounts above is the one we will get before tax :)

 

We are currently living in a terrible council flat which is making my mental and physical illnesses worse. We HAVE to get out of here.

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the current provider cant charge you for transferring elsewhere, the law says you have the right to.

Some older schemes have a penalty in their rules but they are trumped by the law as it stands so dont accept such a term.

 

the pension pot is divided into 2 parts for purposes of calculating a pension.

 

The GMP part is money that is used to guarantee a certain level of payout that would be equal to what you would have got from the govt SERPS scheme if you had been enrolled in that instead.

 

This is generally higher than the standard paypout you would get as an annuity for the same amount of cash by a long way

it will be worth your while to take advice as to what the pension will be from the GMP pot.

 

As your pension pot is a decent size you will not be allowed to cash it in without taking advice anyway.

 

Does your scheme allow partial transfers out?

If so that may be an option,

some dont so you will have to move the lot to another provider before you make a decision on what to do so again advice should be sought before you do this.

 

Tax is not an issue for one sum or the other, it will apply to whatever amount you take out, not the pot.

 

So take out £100k and you will get £25k tax free and then pay tax as though it was income for the year

so you will be paying 40% on most of it as it will push your earnings up above the £32k threshold so you will get hammered.

 

That makes a drawdown seem sensible but mortgage co's might not like the figues you produce to show your income using it as part of that income.

They worry that in 20 years time you are potless and only have the old age pension.

 

Again, somehting your visit to an advisor will be able to help you with regarding numbers

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  • 2 months later...

Please can someone help me :')

 

I have a defined benefit pension with DHL … they call it a money purchase with guaranteed minimum pension underpin.

 

I cannot access this pension when 55 or take any of the new options but I can transfer it out.

 

My current situation is that we lost everything in the credit crunch, became homeless for 2 years but still tried to continue the business.

 

An online hate campaign by a handful of florists, including death threats caused me to have a stress breakdown. This made me vulnerable and we were therefore housed in the worst council estate on Anglesey. It is so bad that they have now installed CCTV Cameras.

 

I am on PIP, my partner is my carer and we are on income support.

 

When I first realised how much was in the pension pot I spoke to the DWP and Income support. They confirmed that to completely draw down the pension to purchase a house would be fine and that we would only lose income support for the brief period that the funds were in my account.

 

My health continued to deteriorate both mentally but mainly physically and the only thing that has kept me going knows I could access this pension at 55 and buy a house.

 

Having a house with a workshop, which we have found would allow my partner to potentially start a business whilst still being on hand for me full time. The house also has a garden, which would be extremely beneficial to my health.

 

I know of all of the other options and this is the best one for us.

 

However one pension advisor was told he wasn't qualified to deal with this type of pension and so he passed it onto a comany called Pension Help but they have refused to do it.

 

I know there are legit companies out there who will do it but it's like trying to find a needle in a hay stack.

 

Please, please could someone help :'(

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Hello there.

 

I've merged several threads that you've posted to keep the information together.

 

If Pension Wise can't help, have you spoken the the Pension Advisory Service, TPAS? I'm not up to speed on the current rules for GMP funds, but in the past you could only use them to buy an annuity. That could have changed with new rules, I don't know.

 

There isn't a simple answer to this, including the possible deduction of tax from drawdown plans.

 

There are also IFAs, independent financial advisers, who you can talk to. The one I know of is Hargreaves Lansdown who have a good helpline, I'm sure there are others. You need to get as much information as possible about your choices so that you don't end up with an unexpected tax bill for instance. There's no simple answer to this and nobody on CAG is authorised to advice on pension transfers as far as I'm aware. You need to do your homework, I'm afraid.

 

HB

Illegitimi non carborundum

 

 

 

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My suggestion is to wrk out what you have got as far as cash gors that does not include any GMP part of the pension. Apart from paying you something in the future this money is what is giving the advisors headaches, they can lose a lot of money in compensation claims if they advise on this and get it wrong or things change in the future and that is why they dont want to discuss it. Have you looked at leaving that portion where it is until you are 65 or whatever age would normally kick start the pension? Will the schemes allow that? Can you move the disparate pensions to one place and then access the non GMP money from there?.

Once you know what questions you need to ask you will find getting answers easier.

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