Pension claim due to opting out

[Rukka]

Hello all this is my first post so be gentle!

 

Im currently going through a complaint with my Pension Provider from my previous company

 

It basically consists of the company requested me to opt out of the scheme in 1990 for a cash lump sum payment - basically I was Induced and took the bait with no financial advice whatsoever - its taken a year for the company to finally respond via a solicitor of whom have totally disregarded my claim and put the emphasis on the limitation act 1980 - here is a snippet of the response : 

The Limitation Act 1980 sets out the time

periods for which any claim must be pursued. A claim in contract must be pursued within 6 years of

the accrual of the cause of action. In your circumstances the cause of action accrued at the latest

when you re-joined the Scheme in 1996. Therefore any contractual claim would have expired by

2002. Any claim in tort (for example a negligence type claim) would again commence, at the latest,

from the time you re-joined the Scheme in 1996. Tortious claims are subject to s14b Limitation Act

1980 which imposes a 15 year Iongstop period within which, under certain circumstances, claims

can be pursued. Even under those circumstances any claim must have been pursued by 2011.

 

Due to some serious digging, I have become aware of the section 32 :

• "any fact relevant to the plaintiff's right of action has been deliberately concealed from him by the defendant".

I only became aware of my short fall last year when i received my full statement telling me of the years I contributed to the scheme

Im fully aware of me opting out of the scheme but feel that my losses were concealed until i have reached retirement age - I managed to re enter the scheme some years later but have only managed about 9 years pension out of 18 years service

 

Your thoughts?  I have instructed the Pensions Ombudsman to look into it for me as well

 

Regards

 

 

 

[ericsbrother]

you need to speak to the pensions advisory service and if they think their is mileage in this take the matter to the pensions ombudsman

As they asked you to opt out the the point about concealment is relevant. If you had been persuaded by some salesman or demanded to opt out that would be different

[Rukka]

17 hours ago, ericsbrother said:

you need to speak to the pensions advisory service and if they think their is mileage in this take the matter to the pensions ombudsman

As they asked you to opt out the the point about concealment is relevant. If you had been persuaded by some salesman or demanded to opt out that would be different

Yes the Ombudsman have received my case however, there is a tremendous work load at present and will be a few weeks before they can look at it...

 

[ericsbrother]

It takes about a year to get to the end of the road but the clock has stopped as far as the limitations act goes. Best of luck and let us know what is happening so we can advise others