UK Private Pension - Changes to Pension Laws

[topt]

No idea if this is the correct Forums to ask ??

I need help and advise... I simply have no idea about Private Pensions,

I do have a United Friendly Private Pension Plan No xxxxxxx [have the number] likewise have the number Personal Pension No: xxxxxx

I have the date and day started and 19 years later the date and day ended as no longer working, but have No other info or documents at all, lost somewhere, as moved about to different Countries before coming here 11 years ago... here always lived at the same address..

​over the past 9 year have sent a number of emails + 3 or 4 letters registered [so I know they received them via on-line tracing] yet never received a reply... every time downloaded the 'change of address Form' and sent... last letter sent a month ago by EMS @ 1.300 baht !! on-line tracing showed it was signed for a few day later. yet nothing no reply at all, not even a email..

I do not use a phone, do not even have one in the house, hearing is not what it used to be, so pointless trying to phone..

Have no idea what to do ? no idea if and what is in the 'pot' will there be some sort payment due? 65 this year so anything more than my State Pension would be nice.

I take it you have tried to contact them via the Royal London website - as they seem to be the ones looking after customers from United Friendly?

http://www.royallondon.com/contact/?amp%3Bepslanguage=en

If yes I would initially try sending a mail to their complaints section.

Otherwise can you pay someone else to phone for you?

[AyG]

​over the past 9 year have sent a number of emails + 3 or 4 letters registered [so I know they received them via on-line tracing] yet never received a reply... every time downloaded the 'change of address Form' and sent... last letter sent a month ago by EMS @ 1.300 baht !! on-line[/size] tracing showed it was signed for a few day later. yet nothing no reply at all, not even a email..

Given that they've been taken over, have you been writing to the wrong address? They're now at Customer Services, Royal London House, Alderly Road, Wilmslow, SK9 1PF. Email address: custserv[at]royallondon.com

Edited June 21, 2015 by AyG

[ignis]

​over the past 9 year have sent a number of emails + 3 or 4 letters registered [so I know they received them via on-line tracing] yet never received a reply... every time downloaded the 'change of address Form' and sent... last letter sent a month ago by EMS @ 1.300 baht !! on-line[/size] tracing showed it was signed for a few day later. yet nothing no reply at all, not even a email..

Given that they've been taken over, have you been writing to the wrong address? They're now at Customer Services, Royal London House, Alderly Road, Wilmslow, SK9 1PF. Email address: custserv[at]royallondon.com

Yes thanks, have been writing and sent email's to that address, think they were taken over years ago.

Looking at Google, there appears to be many people that just cannot get a reply from Royal London, somewhere along the way old Policies have so say got lost.

[dabhand]

Sounds like you have the correct address for your pension provider, but no harm in double checking via this link:

https://www.gov.uk/find-lost-pension

As it appears you are being ignored, maybe best to look at raising a complaint with the Pension Ombudsman:

https://www.pensions-ombudsman.org.uk/

Best of luck.

[Suzy]

I am currently battling with the Prudential to receive the full amount of my pension pot, a few quid over 30k. I phone and am told everything is in order and then I get a letter saying some document has not been returned. (Not that they ever sent me said document in the first place). Received and returned doc. End of May I phoned again and was told everything was now ok, no problems and I was assured the money would definitely be transferred by 11th June. No such luck. Another phone call (waiting on hold for 30 minutes after having been told there was a 10 minute wait!) and I was told a letter had been sent, couldn't give me details but probably confirmation of payment, tax etc. Another 10 day wait for the mail and the letter arrives with two more forms to complete. One is confirmation of ID, OK not a problem. The other is a document 'Appropriate Advice Declaration' to be signed by a suitable authorized (in the UK) adviser. Such advisers, of course, are non-existent in Thailand. So what to do. I have been on to unbiased.com who list a record of advisors who can work online. All enquiry forms require personal details, including UK phone number.

Any suggestions or recommendations would be most appreciated as this whole scenario is causing great aggravation and stress and I just want to get the matter finished urgently, as well as receive the money!

[ignis]

Sounds like you have the correct address for your pension provider, but no harm in double checking via this link:

https://www.gov.uk/find-lost-pension

As it appears you are being ignored, maybe best to look at raising a complaint with the Pension Ombudsman:

https://www.pensions-ombudsman.org.uk/

Best of luck.

Many thanks

Send them a email, received a letter in the post [snail mail] this morning.........

Appear I could have had the private pension at age 60, so say they sent the forms asking to my old UK address = they got that returned as 'gone away' so all was archived...

Anyway appears they have now found my pension and I will have to fill in the forms again and return them to Royal London !!! wonder what forms ? will they send them? I have written a number of time over the years without a reply, so will they sent the new forms to the old 2003 address ?

Edit: appears UK is still in the dark ages and only use snail mail ??

Edited July 8, 2015 by ignis

[Paul1952]

I oversee many transfers from DB schemes in the UK to QROPS in different parts of the world and the main advantages are ability to pass the whole fund on after the second to die (assuming husband and wife) free from tax - almost like a family trust it can then go down the generations. Also, there is no currency risk because you can denominate you new fund in the local currency.

However, and this is the point I have to stress to people, this may not be enough to compensate for the fact that you are giving up a guaranteed final salary scheme benefit for an unknown pension amount.

You have to weigh it up for yourself but if you are transferring from a DB scheme I can confirm that a previous poster is correct - you do need to get it signed off by an adviser in the UK - it's part of the law now. I have to sign off many of these, otherwise the scheme will not release the money.

[Paul1952]

No idea if this is the correct Forums to ask ??

I need help and advise... I simply have no idea about Private Pensions,

I do have a United Friendly Private Pension Plan No xxxxxxx [have the number] likewise have the number Personal Pension No: xxxxxx

I have the date and day started and 19 years later the date and day ended as no longer working, but have No other info or documents at all, lost somewhere, as moved about to different Countries before coming here 11 years ago... here always lived at the same address..

​over the past 9 year have sent a number of emails + 3 or 4 letters registered [so I know they received them via on-line tracing] yet never received a reply... every time downloaded the 'change of address Form' and sent... last letter sent a month ago by EMS @ 1.300 baht !! on-line tracing showed it was signed for a few day later. yet nothing no reply at all, not even a email..

I do not use a phone, do not even have one in the house, hearing is not what it used to be, so pointless trying to phone..

Have no idea what to do ? no idea if and what is in the 'pot' will there be some sort payment due? 65 this year so anything more than my State Pension would be nice.

I take it you have tried to contact them via the Royal London website - as they seem to be the ones looking after customers from United Friendly?

http://www.royallondon.com/contact/?amp%3Bepslanguage=en

If yes I would initially try sending a mail to their complaints section.

Otherwise can you pay someone else to phone for you?

I am an IFA in the UK who can help you track it down. Please let me know.

[MaeJoMTB]

I oversee many transfers from DB schemes in the UK to QROPS in different parts of the world and the main advantages are ability to pass the whole fund on after the second to die (assuming husband and wife) free from tax - almost like a family trust it can then go down the generations. Also, there is no currency risk because you can denominate you new fund in the local currency.

However, and this is the point I have to stress to people, this may not be enough to compensate for the fact that you are giving up a guaranteed final salary scheme benefit for an unknown pension amount.

You have to weigh it up for yourself but if you are transferring from a DB scheme I can confirm that a previous poster is correct - you do need to get it signed off by an adviser in the UK - it's part of the law now. I have to sign off many of these, otherwise the scheme will not release the money.

Hargreaves Lansdown,

If you need a IFA in the UK, these are the guys to go with.

Always in the top 10 recommended.

Any IFA suggesting a transfer from a Defined Benefit Scheme into QROPs is almost certainly a crook.

QRoPs is nearly dead, killed by the UK government when too many crooks were stealing from pensioners.

[ignis]

No idea if this is the correct Forums to ask ??

I need help and advise... I simply have no idea about Private Pensions,

I do have a United Friendly Private Pension Plan No xxxxxxx [have the number] likewise have the number Personal Pension No: xxxxxx

I have the date and day started and 19 years later the date and day ended as no longer working, but have No other info or documents at all, lost somewhere, as moved about to different Countries before coming here 11 years ago... here always lived at the same address..

​over the past 9 year have sent a number of emails + 3 or 4 letters registered [so I know they received them via on-line tracing] yet never received a reply... every time downloaded the 'change of address Form' and sent... last letter sent a month ago by EMS @ 1.300 baht !! on-line tracing showed it was signed for a few day later. yet nothing no reply at all, not even a email..

I do not use a phone, do not even have one in the house, hearing is not what it used to be, so pointless trying to phone..

Have no idea what to do ? no idea if and what is in the 'pot' will there be some sort payment due? 65 this year so anything more than my State Pension would be nice.

I take it you have tried to contact them via the Royal London website - as they seem to be the ones looking after customers from United Friendly?

http://www.royallondon.com/contact/?amp%3Bepslanguage=en

If yes I would initially try sending a mail to their complaints section.

Otherwise can you pay someone else to phone for you?

I am an IFA in the UK who can help you track it down. Please let me know.

Thanks, but writing to complaints section, I got a reply and they found it..

Since then have received 4 letters and 3 packs from them...

​What I cannot make out is the tax... 25% tax free as a lump sum, and if wanting the lot then must pay tax on the remaining 75%... but the whole pot is £6,700 so well under the yearly allowance...... would I still have to pay 40% tax on the 75% ? [about £4,500 total remaining] ?

[MaeJoMTB]

You can take up to 10,500 out tax free, each year.

So in your case the entire amount in one go.

If you have no other UK income.

No need to let any crooks fishing for the gullible to take any part in the withdrawal.

Write again to the pension company and tell them you want to take the money out, they will send you the forms.

Edited August 15, 2015 by MaeJoMTB

[ignis]

You can take up to 10,500 out tax free, each year.

So in your case the entire amount in one go.

If you have no other UK income.

No need to let any crooks fishing for the gullible to take any part in the withdrawal.

Write again to the pension company and tell them you want to take the money out, they will send you the forms.

Not so......... by Law they say, they have to pay the 75% of the pot Tax to the Tax Office, the £10,500 allowance tax free has nothing to do with them, I have to write to the Tax Office to get the Tax which was paid back, which will be paid in April 2016..