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Prouty99

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About Prouty99

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  1. Now I have all of the old paperwork out, I have found a forgotten clerical medical pension that I have that seems a bit dodgy to me. Brief history of the policy; Originally taken out with United friendly in the 80's, who were then bought out or merged at a later date with Royal London. This is /was a mutual with profits. In 2007 I was contacted by an independent financial advisor who said he would take a look at the pension as I was considering transferring the pension to an occupational scheme. The advisor advised me to transfer the existing funds (admittedly not much at the time) into a clerical medical personal pension plan as it would be 'a better option' and 'pay a better amount in the long term' Firstly, CM have never contacted me for a review from 2007 to 2015 (considering the volatility of pensions this seems dodgy) Secondly, as far as I can make out the transfer fee was £4k Two things stand out in the small print on the initial review documents; Assumed growth rates: "Compared with your current plan, the new Clerical Medical plan would reduce your fund by 17.8% Minimum transfer accepted You do not have a particularly large transfer value to invest for your retirement, and so you need a plan which will accept a low minimum stand alone single premium Unfortunately, this plan has one of the highest on the market Policy Fee You should choose a plan with a competitive policy fee Unfortunately this monthly policy fee for this plan is above average compared to other plans on the market. One off installation fee You should choose a plan that has a competitive stand alone administration fee, if at all Unfortunately, one of the highest fees applies to this plan. I went with his advice at the time, and forgot about the pension as I later joined the company scheme anyway, and just never paid anything else into the private one, but over the last couple of weeks I have been tracing things including this and after reading the small print it seems like I was really stiffed on this policy. Luckily I still have all of the paperwork for this one, including 'independent review paperwork' with the name of the advisor should I have any grounds to take this further. Why would someone strongly advise a policy that costs 4K, and loses 17.8% ? I wasn't aware that pension policies charge a monthly fee either (£40 per annum), or installation fee (£100). Thoughts anyone ? Just to add to that, if you read the other thread http://www.consumeractiongroup.co.uk/forum/showthread.php?444060-Tibbett-and-Britten-group-workplace-pensionpost I made about the Tibbett & Britten pension scheme, this is the scheme which I was considering transferring the funds to, and it was a final salary scheme, so I guess it was a foolish thing to do by not transferring into a company scheme at the time, but the way things turned out the final salary scheme was wound up in 2012, so in hindsight a stupid decision, and bad advice at the time has actually turned out to be a decision that has worked out I guess. At the point of sale though it was stupid advice, and a stupid move for me to believe that advice.
  2. Thanks for the replies on this, I have checked the database on this issue, and have come up with two possibilities; SX929 TIBBETT & BRITTEN LIMITED PENSION SCHEME -THIS FUND WILL BUY DOUBLE PENSION AT RETIREMENT S0929 TIBBETT AND BRITTEN LIMITED PENSION SCHEME -ADDITIONAL VOLUNTARY CONTRIBUTIONS I guess that the 5 digit numbers at the start are the group scheme policy numbers, and the NI number added to this will give you a full policy number. I'm not sure which one is the pension that I'm looking at, but i'll give them a call and see what they say. Its such a mess of companies involved, as aside from Tibbetts, and the Equitable life thing, the pension scheme was wound up by DHL (transport and distribution company) I have a feeling that I will be sat in a long line waiting for a very undervalue compensation claim, but I will let you know how I get on.
  3. Oh dear, It seems that the Tibbett & Britten pension scheme was really an equitable life program... Needless to say I have moved this to the pensions forum http://www.consumeractiongroup.co.uk/forum/showthread.php?444344-I-have-been-sucked-into-the-Equitable-life-vortex&p=4722326#post4722326 May god have mercy on me with the equitable life scandal, I'm in a very long line hammering at their door for compensation it would seem
  4. Good grief.... I have started to investigate an old workplace pension with an organisation called Tibbett & Britten who did transport and logistics for Asda (pre-Walmart). In 2001 Walmart came along and kicked out Tibbett and Britten as it wanted to do the logistics thing in house now it was partnered with Asda. The pension became frozen. Forward wind to 2008, redundancy loomed (compulsory), and the site closed. Recently we have been wondering what happened to that pension, never had any paperwork from them. So after some digging it seems that the Tibbett & Britten pension scheme went into winding up proceedings around 2009, and DHL were the trustees of the winding up. After more digging today it seems that the although it was a Tibbett & Britten pension scheme (workplace), the pension itself was Equitable life... This has opened a barrel of worms, as the Equitable life stuff (unknown to me or the wife), turned into a real fiasco, with millions owed compensation, and all kinds of nastiness going on. The pension ran from 1992 to 2001 before being frozen, and after some research it seems that this exact timeframe is right at the heart of the fiasco. So this is where I am up to at the moment. What I want to know is if anyone else here has been down this road already with equitable life payment scheme, and although this scandal is well documented, what are the realistic chances of getting any compensation before we are old, toothless and grey ?
  5. Well, well, it looks like Paratus have emailed me back about the GMAC issue, Good morning Thank you for your email. I will investigate your Redress claim. Can you confirm your current address please. Regards Customer Services Tel: 01344 854084 Lets see what happens (If anything)
  6. I contacted the pension protection fund on this issue; Thank you for your email dated 8 April 2015. I note your request and can confirm your former employers pension scheme, the Tibbett and Britten Pension Scheme (the scheme) has not transferred to the Pension Protection Fund (PPF). From the enquiries I have made it appears the scheme wound up in November 2012. In this instance we would suggest you contact the Pensions Tracing Service (PTS) who may be able to assist you. The PTS maintains a database of occupational pension schemes and it services are available free of charge. They can be contacted at: Tel: 0845 6002 537 Pension Tracing Service The Pension Service 9 Mail Handling Site 9 Wolverhampton WV98 1LU I hope the above is helpful So I have sent an email to the pension tracing service, and will be speaking to the pension advisory service as well. I'm surprised that the people who were winding up the scheme did not publish what the terms of the winding up would be. I would have thought that anyone winding up a major pension scheme would need to make public what they intend to put into place, or their terms are. I have never had any dealings with a wound up pension before, so this is new ground for me. The pension is (was) a final salary scheme, so I am not surprised it was wound up really.
  7. Thanks for that Emmzzi, I have dropped those guys an email also Lets see what happens
  8. I checked this one out It seems that the deadline to write to them was in 2012.... I have just sent a message to pension protection fund, i'll see what happens with that one. I also sent a message to Tibet and britten but the email bounced back, so maybe I will try other avenues, I think the government have a pension tracing service, so I will give that a whirl as well I'll keep you posted
  9. Hi all, Simple question really, it would seem that a pension I used to have (occupational) was with Tibbett and Britten group. The pension trustees apparently were wound up in 2012 as far as I can make out, but I still have around 8 years of contributions with this pension fund. What do I do ? How do I access my frozen pension funds from a fund that has been wound up ? This isn't my area of expertise, but I'm sure someone here is an expert
  10. Ok, I had a reply... At least I know they don't intend to deal with this via email Good Afternoon Mr. Prouty Please forward any correspondence to – ParatusAMC 5, Arlington Square, Downshire Way, Bracknell, Berkshire, RG12 4AY . Kind Regards So it looks like the SAR route, no worries I already have the SAR written, so its just a case of posting it I will keep you informed as to my progress
  11. Well, what can I say...... I received this reply within 24 hours. Dear Mr. Prouty99 Policy Number: xxxxxxxxxxxxxx Thank you for your email which has been passed to me as your dedicated Complaint Handler on the Customer Relations Team. I have tried to contact you today; however there was no answer I therefore left a voice mail and sent you a text message. Firstly, I would like to apologise for any inconvenience this matter may have caused you. To ensure that I address all of your concerns, I have summarised my understanding of the issues you have raised below. Please can you read through this and confirm that it is accurate. My understanding of your complaint is that you are unhappy that you have been charges a Cancellation fee and a Direct Debit set up fee, when your policy was cancelled within the 14 day cooling off period. You are also not happy that you had to wait 11 weeks and 5 days to receive a reply from Asda Car Insurance regarding this matter, you believe this is unfair and would like this investigated. Firstly, I apologise for the problems you have experienced with your insurance policy. I can see that your policy was cancelled with effect from the 13th January 2015 at 11:15, 12 days after the policy had commenced. As your Certificate of Motor Insurance is a legal document we require for this to be returned before we are able to calculate and process any refund that is due. Your Certificate of Motor Insurance was received on the 22nd January and your refund was calculated and processed on the 28th January, within our 14 day timescale outline in our Terms of Business. In your email you have confirmed that you previous insurance company had automatically renewed your insurance policy, I therefore complete a search on the Motor Insurance Database and can see that you were dual insured on the start date of your insurance policy with us. I will therefore arrange for a full refund of the premium you paid for the deposit of this insurance policy to be returned to you. You paid a deposit of £125.21 and have received a refund of £22.04, I will therefore arrange for the difference of £103.17 to be issued to you. How to accept this offer Please reply to this email confirming that you accept this offer in full and final settlement of this complaint. As soon as I receive confirmation I will process your offer as a matter of priority. Please confirm that I have provided a satisfactory resolution to your complaint. Once again, please accept my sincere apologies for any inconvenience this matter may have caused you. If you wish to discuss the above offer or the details of your complaint, please do not hesitate to contact your complaint handler The moral of the story is, If you don't ask, you don't get..... Full refund....
  12. I have sent Asda them a very nice email, so lets see what comes back I'll keep you posted
  13. Thanks for the reply, I guess that the pressure is off as the mortgage has been paid up some time ago. My strategy is a 3 pronged attack really, I want to sort out the exit fee, which I don't think will be a problem as this was part of the FSA criticism of them in 2009, then I want to go for the PPI, and as an outside chance I am also going to try for the over inflated late payment charges etc.... Do you think that this will involve 3 separate cases, or do you think they may just lump all of these issues into the same case ? By the way, after a 20 year stretch as a trade union official, I am used to dirty tricks, subterfuge, and blackmail
  14. After getting my other half to go through a bunch of documentation, it turns out that she had a GMAC mortgage which was paid up in around 2008, and prior to this she was hammered with all kinds of charges for some time. After some searching around on the net, it seems that GMAC should have sent her a letter regarding the redress scheme in the wake of the FSA 2009 ruling on their unfair practices, but she doesn't recall ever getting any mail from them regarding this issue. I knew about the GMAC thing a long time ago, but myself and partner haven't been together long, and she had no idea until I asked her if she had any dealings with any of the companies that had been fined in the past. I gather that GMAC went pear shaped, and are now under another organisation (Paratus I believe), so is there any sense in starting the ball rolling through these people right now in 2015 ? I already battered Welcome finance on her behalf, which was a pretty quick and simple affair really, but I expect these Paratus people to be a more difficult process. The original redress telephone number has been discontinued ( 0800 030 4662 ), so I guess firstly it may be a matter of just contacting Paratus maybe Any thoughts anyone ?
  15. Interesting, i would have thought that the direct debit setup would be the same irrespective of the length of insurance. I think a standard 'threat to take to the ombudsman' may force their hand given the cost of complaint from the FOS versus the cancellation fee Aside from this, i think that 12 weeks for a refund is excessive anyway. If i hadn't got in touch with them to prod them earlier on today, i believe i would have waited forever.... What do you make of the question about having multiple cover for the same car ? would multiple policies all pay out for the same accident ?
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