Cheated out of an annual increase to my company pension by the Pensions Act 1995

[BML]

 I think you might be talking about private schemes whereas my pension is with one of the wealthiest American companies yet they feel it’s all right to swindle a group of their employees out of annual pension increases aided and assisted by a Tory Government.
 

[Goingtoseed]

I had a number of pension schemes. One of the pots was small being little over £1000 and they just let me take the lot as cash. Don't recall any details though.

I agree that that is a possibility. But to get to the point of asking for that to happen I was told that I had to fill out these lengthy documents and then give them a calculation based on my other pensions that I receive of what was left as a percentage of my allowance. That would have meant 7 letters to 6 different pension providers asking what % of my allowance does/did my pension take up.
Then the Aviva application form (basically a book in itself) had to be completed together with confirmation that the decision I had come to was after I had had a mandatory review of my finances from a Financial Advisor, who I had to provide the relevant certificate/report for which I had to pay for.
All that for £300 and with it reducing at the rate of £35 every year owing to the charges that they are taking.

[klondike]

I think you might be talking about private schemes whereas my pension is with one of the wealthiest American companies yet they feel it’s all right to swindle a group of their employees out of annual pension increases aided and assisted by a Tory Government.

Yes private but I wasn't actually responding to your post I was just responding to GTS and the fuss he faced with his £300 pot but didn't quote it as I thought the context made that plain.


I think I just had a letter from them when I wrote to them to say I was thinking of drawing it asking if I wanted to take it all as a lump sum. I may or may not have had to sign a disclaimer.