Jump to content


dissolved Company Pension trustee


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2055 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Retiring before you are 55 is always possible( fund rules a dependent) it is just you lose all of the tax breaks so as soon as you take a penny it counts as income for that year and you could end up with a tax bill of 55% of you total income for that year. then the tax computer assumes that you are earning this much every month and you take another year being taxed at 55% to get back to square one.

Link to post
Share on other sites

  • 2 weeks later...
  • Replies 57
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

give it no more than another fortnight and then write again demanding the calculatuions and give them another week before complaining to the Pensions Ombudsman (not the Pensions Advisory Service) You will the have to fill out a form and they will creak into action but knowing it is going there will focus the pension co's minds.

Link to post
Share on other sites

  • 1 month later...
  • 1 month later...

little update

Obviously this case got passed around the desks - a lot - as we received several letters with differing calculations and settlement offers. I think we are almost there with an acceptable settlement - double what they first offered... Will keep this thread updated

Link to post
Share on other sites

Well,

that is an improvement even if they cant come up with figures based on the original sum.

 

Have you done a calculation of the backdating based on 8% statutory interest?

that is the amount that a court orders as simple interest per annum so if they owed you £1000 from 20 years ago they would owe you £4661 now so offering double doesnt cut the mustard.

 

I would bet that their investment performance matches this quite closely, a pension I have with Virgin has more than trebled (nealry quadroupled) in the same time so double isnt really enough.

 

let them know this and tell them that you are happy to use the courts to claim this as a minimum and as they have admitted their calculations are duff it may well be twice that.

 

Stop being nice now you have a response you can wave about, use the admission to get a proper consideration.

Edited by dx100uk
spacing
Link to post
Share on other sites

  • 3 weeks later...

I just thought I would add a little update here.

 

As it happens :-) :-) I had a really rare executive pension plan which enabled me to take - very early - all the money out of the fund, transfer it all into a S32 pot in a new pension company.

I could then take out the tax free lump sum that the original fund had calculated and agreed - based on my previous income/ tax returns before 2006.

The outstanding amount then got transferred to a separate fund within the new Pension Company - to an assortment of investments which my financial adviser recommended - and this will form part of my retirement fund for when I am much older.

What I have done has given me more control over "my money". I have tailored the investments based on current funds and performances; not those of many years ago when I took the original fund out.

 

There is the opportunity to switch from this fund again and self administer - which I potentially can do when I have more time and mental focus to over-see.

I hope that this intervention will prove lucrative....

 

The whole process was quite long-winded and eventually took almost 6 months from enquiry to receipt of funds.

Happy that I persevered :-)

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...