Two Sun Life pensions merged without notice

[Old Cogger]

well maybe the reason was = Gordon Brown in his infinite wisdom decided that once you got to 55 yrs old you cannot top up your pension payments into that plan, you have to take a stakeholder/another pension plan, hence I ended up with two to the same company, when they paid out pension they combined the two together to make one payment in pension monies, no doubt the reason you state two pensions same company.

[Old Cogger]

Scandal was the 80s Section 32 Opt Out - =

 

that even I was caught out with getting you to opt out of company schemes offering better possible final % payouts by Banks/Insurance companies hence the Bank in my case had to rectify shortfall (projected) and issued a paid up Pension policy with another supplier ( no cash refund of difference) but a pension at 65 yrs old albeit of wait for it wiat for it!!!!!!!!!!! £ 28.16 a month Minus Tax = £23.00 a month net.

[Old Cogger]

Thanks HB… I've not really started digging yet, apart from contacting the office of the IFA… He has not replied and seems to be avoiding me… I wonder if he is still receiving commission on all the investments he set up for us… There were quite a few...I am particularly interested to find out what happened to an endowment policy he arranged for a mortgage with Abbey National…I still have old bank statements with policy numbers, etc., but with regard to the pensions I am really not sure which questions I should be asking with regard to whether we were misadvised…

 

I didn't realise, for instance that by contracting out of SERPS, there would be a reduced State pension… I don't remember being told anything to that effect…

 

Well… I suppose I'd better dig out all the statements, then and go from there…

 

Thanks for the post!

 

D

 

contracted out of serps as part of the pension paid for by government it seems, I queried this later years, got contracted back in quick, but lost out on my pension payout on state pension let alone this misselling under Section 32 opt out fiasco.