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  1. Sorry I can't find the right place to post this .... is there a specific forum for pension queries
  2. Is there any advice anyone can offer on Pension credit. My sisters situation is she has been advised to apply for pension credit and a little help with her mortgage. The problem is she is a "mortgage prisoner" and cannot afford to sell her house, it needs a lot of repairs, and cannot get a cheaper deal. She has been working until recently, she is age 69, but if she did receive pension credit it would not cover all of her mortgage, even with the amount she would receive from the Government. Her son is helping her at the moment and will carry on doing so until she can eventually sell the house, then she plans to repay him the loan. My question is would they allow her to do this or would any money, lent to her by her son be counted as income. If you are not able to advise could you tell me where I could find this out for her. Thank you.
  3. Had interview with compliance officer re PC have to provide copies my wife business accounts for last 4 years - no problem sending HMRC accounts photocopies. No profit made. No savings but we took out a lifetime mortgage on house and draw down to clear debts ( Credit Card 11K) Would they regard this as income? does that leave me liable to interview under caution + having to pay back? How far can they go back? and can I stop having PC as I am ill and can't take stress? HELP! Thank you
  4. While we were all watching the Brexit farce: State Pension Credit will no longer be available to claimants whose partner is under state pension age
  5. Armed forces and reserve forces pension schemes: guidance booklets READ MORE HERE: https://www.gov.uk/government/publications/armed-forces-and-reserve-forces-pension-schemes-guidance-booklets
  6. Hi All, Just a little advice please. I had a works pension that was frozen some 8 years before I got married. My wife and I are going trough divorce and she seems interested in some of this pension. Question is as the pension was paid into and frozen before we married is she entitled to some of it? I am retired and disabled and claiming pension credit + enhanced PIP and Enhanced Mobility. the pension she is looking to have part of pays £42.27/Month She is 58 and due to retire at 67. She has a work p\lace pension and she earns around 1,500/month her new partner earns about the same. wondering also if I am entitled to Spousal award, not that I want to claim any of it, just use it as a lever to get her off my back. Thanks in anticipation Ken
  7. Hello, I got a pension savings pack from my father now passed away for a large sum. The policy seems legit with a policy number, its a defined contribution policy and it has payable before death of pension age. I thought the lawyer dealt with all his affairs turns out he didn't. So, what does the law say on pension savings for someone who has deceased do the next next of kin, children inherit it just like property rules of intestacy? Thanks.
  8. Just wanted a bit of help with an old company pension plan. Owned a Ltd company but it was dissolved ages ago. Had set up an executive pension plan. The company was just me - so I was only going to be the sole beneficiary upon retirement. Now as the Company is dissolved there is effectively no-one to sign any retirement claim documents. The pension firm says I need to apply to be the new plan trustee - and it will then give me powers restricted to paying the benefits from this plan. But the appointment only lasts for 9 months - and the benefits will need to be dealt with in this time. What exactly does that mean? That i only have 9 months to decide what to do with the fund? what does 'benefits' mean? - all the money or just some? Received letter which gives me 2 choices: wish to be appointed in order to take my benefits with 9m appointment period wish to be appointed in order to transfer my benefits to an alternative arrangement within the 9m appointment period Im a bit confused by it. Are they giving me the option - as a temporary trustee - to decide what to do with the fund? ie transfer to a new pension company, self-administer, take some money out early (if eligible) or to just leave it with them to continue as normal? I just don't get the 9 month limit? Surely I would have to remain the Plan Trustee forever if the company doesn't exist anymore? Or am I missing something?
  9. Writing about my late father's pension fund. My mother just received a letter from a pension company who wrote they made a mistake and owe my late father £1500. He closed the account 20y ago I have successfully claimed compound interest against late payment charges on some credit cards - so I am just wondering if we can claim compound interest on this £1500. Any thoughts??
  10. Hi i,m trying to get a calculation for my csps pension i have contacted them with these figures that i have classic pension scheme for 7 years value £1956 per annum plus lump sum premium pension scheme for 5 years 130 days value £2902 The change in pension schemes was because i left and returned to the same job role but had to join the newer premium scheme In total my total number of years in service was 12 years 130 days on pensionable earnings of £29,215 The figure ive been quoted by the csps is £3005 per annum which i think is wrong by my calculations it should be £4858 ive asked to see the formula used and figures they have used to come up with this figure Is it possible to SAR the csps to see what information they have
  11. Hello a bit of a long shot but maybe someone on here has had a similar experience or is going through a similar issue! To cut a long story short, i have now left my civil service job, up until 2015 i was on the Classic pension scheme but then had to move to Alpha ( no choice because of my age at the time ) so 3 years. I will shortly receive my options letter, but having read on the civil service website i may be able to take my pension before age 55, i am 53. i aware i won't be able to take the Alpha part of the pension until i am 55 but it clearly states on the website that the Classic portion of my pension can be taken at 50. The reason i am asking is because theres seem to be some confusion about the Alpha transition, i am also aware of the pension reductions should i take it now, but i am ok with that. Obviously i know i have to wait for the options letter but maybe someone can shed some light on what to expect? Thank you in advance anyway!! Angela x
  12. Good day to all Following the very supportive exchanges I read today within this forum I straight away joined the forum With regard to our {Owned} 1st floor flat, it was essential to sell since my physical abilities deteriorated, we fortunately obtained a local council ground floor flat suitable for disabled people, which we had to move to previous to the sale of the 1st floor flat, since if not occupied within a two-week period it would be awarded to a different couple, we forfeited £10.000 to the Inland Revenue since the 1st floor-flat was not classed to be our main residence {On sale since Oct 2010, Sold: May 2011} On January 2011, the DWP telephoned concerning the selling of the property moreover why I had not informed them of the sale, I certainly did via letter, likewise I keep copies of all my correspondences. They were to forward me a form to complete, all I received being an A4 envelope with a DWP self-addressed envelope, however within being no form of any description to complete On 11th April 2014, I received yet another telephone call via the DWP on the identical topic, the sale of the 1st floor flat, and “where” did the profit of sale go? I replied informing the DWP of the true situation of all monies we had paid out, allowable payments to our three adult children, our grandchildren, two ISAS, a Life Assurance Policy, refurbishing the new ground-floor flat {it really was bare} etc On 22nd November 2017 I attended an interview with the local Job Centre with a rather haughty interviewer, in which I explained equal details regarding “where” did the profit of sale go? I informed the interviewer of the “money-trail” as it were Nevertheless to the main topic: My Pension Credit ceased on 27th November 2017, this, I considered to be a temporary glitch, furthermore all would soon be resolved, how foolish of me Subsequently on 18th December 2017 I telephoned the necessary DWP Department to be informed the lady had no information as to why the payments were “stopped” On 19th December 2017 my wife contacted the DWP, my wife was informed that the Pension Credit was, it appears, suspended and was being “sent upstairs” to be dealt with by a Decision Maker On 31st May 2018 another summons to the local job centre with the same rather smug interviewer, however I maintained a composed demeanour and informed the individual of the circumstances surrounding the 1st floor-flat sale, I mentioned why the Pension Credit Suspended situation, to which there was no detailed answer forthcoming. I received a letter dated 1st June 2018 from this person concerning the 31st May 2018 interview along with a letter explaining the following: “A doubt has arisen about your continued entitlement to pension credit. This means we are not sure if you should still get your benefit payment and it will stop”...Yet this was dated 6th December 2017, for which he extremely thoughtfully apologised with regard to the “delay” in my receiving it On June 4th 2018 I wrote to DWP {and local job centre} requesting a Subject Access and Audit Trail information, nevertheless ought I to, at present, request a Mandatory Reconsideration given that the late letter presented to me mentioning Pension Credit Suspended was dated 6th December 2017 furthermore I maintain no trust with the local job centre interviewer, I have without a doubt, an apprehension that the data he will forward to DWP will not include the entire relevant details I apologise concerning the, in all probability, protracted, rambling post, however I would appreciate assistance Kind Regards Skhane
  13. Rogue pension and finance companies closed down after abusing millions of pounds READ MORE HERE: https://www.gov.uk/government/news/rogue-pension-and-finance-companies-closed-down-after-abusing-millions-of-pounds
  14. I have been on pension credit for three years now,but in November 2017 was called in for an interview under caution. Dwp have stopped my P.C because in 2015 my children recieved from my Mothers will a good amount of money which we invested in Premium Bonds. Dwp are saying that because my children are only 15 and 11 years old and I am the Authorised Adult on the Accounts,that the money is mine. I have proved by way of my Mothers will were the money came from,but dispite a Mandatory Reconsideration the DWP will not change their decision. I have asked several time for the decision to be sent to me on Paper so I can take it to a Tribunal,but they will not send any paperwork of any kind. How do I get the paparwork I need and complain about the way DWP are dragging their feet on this.
  15. Hi, I am asking on behalf of my ex hubby about a pension. He has been making enquiries about cashing in a couple of his pension and went to see someone at CAB for advice. He was told about all the pensions he had but after making enquiries has found 2 other small pension he didn't know he had. He rang the first up and they are sending him all the details they hold but the other company he is having trouble tracing. Can anybody help him or point him in the right direction please. The company he use to work at was Schooner seafoods. Ropery street, Hull. Apparantly it was part of Hughes Food Group. It's is either Liberta/Liberty Zenith, 7 Cheapside, Reading. RG1 7AQ. We have both tried but can find anything. Thanks in advance.
  16. 6 pension and finance companies placed in provisional liquidation READ MORE HERE: https://www.gov.uk/government/news/6-pension-and-finance-companies-placed-in-provisional-liquidation
  17. Hi All, I understand that financial advise is not to be requested but without specifics, can anyone explain this ? I contribute to a group company pension and that contribution is deducted from my wages as a percecentage of my earnings. I have an o/l account with my provider and they allow me to make extra payments into my fund as and when I can afford it. I have done this twice with a few hundred pound , each time I have paid a small lump sum in , the provider adds a tax relief of 25 %. So if I pay £200.00p in they tell that I get £250.00p paid into my fund. Which i think is fine , but where's the catch ? Why don't I simply pay a small amount into my fund via my wages and then top it up with a lump sum payment which gives me a 25% bonus. Is HMRC really giving a dividend of 25% on monies invested ?? Or does it come off my personal allowance. It just seems too good to be true. Or am I just missing something ?? Or am I just thick ? TYVM.... GB...
  18. Hi all, As this is probably quite an uncommon question, I don't know if anyone can help. I currently receive ESA contribution based, in the support group. I also have two small pensions which total less than £85 per week so I have no deductions for them. From next month (I will be 55!!!) I will be entitled to a further very small pension which would still keep me below £85 per week total, but I am considering just taking the whole lot as a lump sum (about £15K) to pay off the remaining mortgage. What I'm worried about is how DWP will view this - would it be considered capital and therefore irrelevant as I do not receive income based benefits, or am I likely to have to repeatedly prove I wouldn't have gone over the pension limit if I'd taken the annuity? I am aware that taking the cash now is not likely to be the most tax-efficient or cost effective option. Edit - I've found this fact sheet which I think says the money will be treated as capital, but I do read things wrong so would appreciate other opinions. https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/417473/pension-flexibilities-dwp-benefits.pdf
  19. Hi folks, I'm new to the forum so please excuse any mistakes . My problem is re Incapacity Benefit changeover to ESA Support Group and Occupational Pension. I was medically retired from my job in January 2003 . Sometime between 2001 and 2003 my SSP from work ran out I went onto Incapacity Benefit (based on my Nat Ins contributions), initially short-term and progressed onto the Long-Term higher rate which I was on until Dec 2012 when I was transferred onto ESA Support group (Contribution based). I completed the ESA form and there was no section or questions on that form asking anything about any Income or Pensions, as many of you will know, that form is purely about your health I had previously informed the DWP in writing in 2003 that I had an Occupational Pension. I was awarded the ESA without any Assessment and put into the Support group (Contribution based). From Jan 2003 I began receiving an Occupational Pension from my previous employer . Also in 2003 I claimed DLA and was awarded the highest rate in both Care and Mobility, this was a long term indefinite award. When I claimed the Incapacity Benefit and then began receiving my Occupational Pension , I informed the DWP about the pension in writing and it was never taken into account (to my knowledge) as Income and did not affect my Incapacity Benefit and I never received any correspondence from DWP regarding this pension at any time. The pension in 2003 was around £60 per week and each year it has gone up by approx between £1.50 - £2 per wk. It is now £92 per week. I received a letter this week from DWP stating that from June 2013 I have been overpaid ESA because, I quote, I did not inform them that I had an Occupational Pension and they now want me to pay back nearly £500 so-called over payment. This letter is worded rather accusatory , one section for some obscure reason is in bold print stating ' You are now in a minority of people who have received money you are not entitled to' (!). The facts of the matter are, the DWP have known since 2003 that I have an Occupational Pension, as I informed them at that time and I assumed that when I and many other people were transferred onto ESA, it would still be the DWP dept that dealt with it, they would have records of my previous Incapacity Benefit claim and they would therefore KNOW already that I was receiving an Occupational Pension !. I realise that I am not covered under the DWP's Transitional Protection rule as my Incapacity Benefit claim began AFTER April 2001. But I have been reading up on this and think that I should still be 'exempt' from having my pension taken into account under PENSION DISREGARDS PRIOR TO ESA CONVERSION , where section 45465 states (1) If the claimant was entitled to Incapacity Benefit immediately before conversion (2) Incapacity Benefit was not reduced by pension because (2.1) Claimant got DLA Care at the highest rate (which I did). I am not positive about this and I also would have thought that DWP staff themselves would already be aware of this (but nothing they do surprises me). To add insult to injury, they want me to pay an extra £50 CIVIL PENALTY because they have decided that I was overpaid because I Negligently made an incorrect statement (WHEN !) or representation of information about my claim without reasonable excuse without taking steps to correct it !'. That's total nonsense as they have known for 14 years that I have a pension, they have never communicated with me about it in all that time or asked me to provide any info. It's unbelievable. It seems to me that SOMEONE at DWP has obviously 'discovered ' the pension info recently and I am expected to pay for their oversight/incompetence. Sorry this is so long-winded, I need to know if I am correct and I AM exempt before I type a letter to DWP stating my case and asking for a Mandatory Reconsideration stating that I believed I am exempt due to the fact that prior to the changeover to ESA I was in receipt of DLA Care at the highest rate . So PLEASE, if anyone can advise me on this I would eternally grateful. Thankyou in advance, Vix.
  20. I have some unpaid debts in the UK but currently live abroad. I have a SIPP pension with a UK provider. Can my creditors seize this pension? Can they seize any money I draw from the pension when I reach the retirement age? Do they have to make me bankrupt to take money from my SIPP?
  21. Hi all, been a while since I've posted on here, but we need help. Just traced an old Pension of hubbies and it amount's to just over £13,000, but having phoned to find out further details, have been informed that it's just that a lump sum!!, nothing else. No income, no pension nothing! just a Lump Sum of £13,069. Seem's like someone gave him bad information over 40 years ago. We are waiting on a CETV, but our plan's on buying a little holiday retreat have gone. However, we would like advise as to whether this minimal sum is worth doing anything with Pension wise, as hubby is 62 this year or should he just spend it? (thank goodness for the state pension(eventually). Any well meaning advise welcome. Cheers
  22. Hi there can you help with this please, I have contacted a financial adviser to have a look at my existing plan with Scottish widows, he told me that the plan i have is not very good as it is a with profits plan and is dead in the water, he has advised me to switch it to another company which has a fully managed fund and would be better than what i have just now. How can i be sure he is acting in my best interests and not his own, thanks for any advice.
  23. Dear those who have had decision letter or have Knowledge The letter said my lost was £80,000 (this is what my pension would be worth) however the amount they put as transferred was the amount my new current pension is worth £40,000(this is what they awarded me) however at the time of transfer the amount was £19,000 NOT £40,000. I am lead to believe that my current pension should not be used as a decision. Only the pension at the time of transfer. Were they right to use my current pension figure as the amount transferred when it £19,000. less broker fees My current pension is not income guaranteed it an shared investment policy They also didn't take in to consideration life insurance attached or brokers or life time brokers fee attached to my pension Do I need to make a separate claim for life insurances attached to my pension. I was lead to believe this should of been included in the calculations Any examples of FSCS Decision well be appreciated feel free to change figures and name Dear all The FSCS used my current pension figure as a lost sum however this was not the amount transferred and the model for this pension is not the same as the pension it was transferred from. They did not include my life insurances attached to my pension or life time brokers fees. Thanks
  24. Hi all ... Hope this is the right place to post this. Having lost everything in the recession I then suffered a major breakdown and now have Complex PTSD and fibromalgia amongst other illnesses which are all getting worse. After two years of being homeless myself and my partner were given a council flat. Our neighbours are the local drug dealers and generally bad things happen daily. I now won't go out of the flat at all. I have a pension which I could cash in in 18 months and I wanted to do this and buy a small cheap house. I currently get PIP and my partner gets carers allowance and we get income support which I apparently claim for us both. I don't really understand it all as the CAB sorted it out for us. If I did cash in my pension and buy a house would our income support stop. Also would this affect my state pension when I get to retirement age. Someone told me that we wouldn't be entitled to pension credits. Thanking you in advance for any advice you can give.
  25. Do you receive an Armed Forces Pension? READ MORE HERE: https://www.gov.uk/government/news/do-you-receive-an-armed-forces-pension
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