Retirement

[DaveH]

Trying to access a prudential pension, they are just fobbing me off, won't let me claim on line, keep sending out reams of paper work that don't make sense, won't help when I phone them, it's only worth 30 grand, but I want it

anyone else had difficulty with these thieving twats

How long have you been trying? £30k is a fair amount of money. Based on the report the other day, there is one year of your retirement covered.

Look back through your email and phone records now and note down every time you can remember that you called them. Exact time and date are better. But if you can't do that, you could say "Week commencing ...., then list phone calls, emails, web form attempts." Basically demonstrate how long you have been trying to contact them for and how many methods you used. If you make any further contact, keep a list and a brief line about what happened each time. It is easy for them to wave away someone saying "I tried to contact you lots", but much harder when you hit them with harder evidence.

Put this in a letter or email to their customer complaints department. Then spell out as a clear list what you expect from them, how you expect to hear from them and by what date (2-3 weeks is reasonable). Finish with "If this matter has not been resolved to my satisfaction by the given date, I will have no choice but to take this case up with Financial Ombudsman. I look forward to hearing from you very soon."

 

[Fletch]

The COPE amount doesn't come off your pension it's the equivalent of the SERPS that you 'missed out on' through being contracted out, so that amount is included in your private pension amount.
That's not my GG page by the way

That’s what thought it’s just info but won’t reduce your actual pension ?

 

[Kent_Mackem]

Trying to access a prudential pension, they are just fobbing me off, won't let me claim on line, keep sending out reams of paper work that don't make sense, won't help when I phone them, it's only worth 30 grand, but I want it

anyone else had difficulty with these thieving twats

Only 30 grand?!?!

Too right you want it. That’s your hard-earned and you have every right to get to it quickly.

 

[Matt Hopkins]

That’s what thought it’s just info but won’t reduce your actual pension ?

You must be logged on to see external links

 

[Darlo1973]

A well-timed redundancy can be fantastic.
It's when they fall at awkward moments that they're not so great... although most people I know come out better than they were in the end, despite being stressed at the time.

My last redundancy was fantastic. The warning signs had been there so I had already started applying for jobs and had a couple of interviews. When it was confirmed (4pm meeting with HR and told it was effective immediately) I went straight home and booked a last minute holiday. I got my the offer of my current job while I was away but they didn't want me for another month so I just booked a another holiday. A whole month off on full pay and with a decent redundancy settlement to have some fun with.

For many of the big corporates (as you will know big pharma are renowned for it), regular waves of redundancy are a fact of life. One of the skills is riding those waves to help improve your career. I will try to dodge the next couple but one in around 5 years time would be very welcome.

 

[DaveH]

My last redundancy was fantastic. The warning signs had been there so I had already started applying for jobs and had a couple of interviews. When it was confirmed (4pm meeting with HR and told it was effective immediately) I went straight home and booked a last minute holiday. I got my the offer of my current job while I was away but they didn't want me for another month so I just booked a another holiday. A whole month off on full pay and with a decent redundancy settlement to have some fun with.

For many of the big corporates (as you will know big pharma are renowned for it), regular waves of redundancy are a fact of life. One of the skills is riding those waves to help improve your career. I will try to dodge the next couple but one in around 5 years time would be very welcome.

Smug git

 

[houghton cut head]

A well-timed redundancy can be fantastic.
It's when they fall at awkward moments that they're not so great... although most people I know come out better than they were in the end, despite being stressed at the time.

The 3 times I have been made redundant I finished on the Friday and started the new job on Monday, 2 places were closing anyway, the 3rd one was as a result of my manager being a clever kernt and marking me and another lad with a low score at our annual review.

Basically he was a bully and we didnt jump to attention. We purposely did things "methodically" as we knew it really pissed him off as he expected everyone to run around like idiots. When there was an opportunity for VR we both applied, and the criteria was the lowest scoring annual review scores went to the top of the lift. He went off it with HR and tried to get our scores increased and they told him to fuck off.

 

[Pnematic1]

Trying to access a prudential pension, they are just fobbing me off, won't let me claim on line, keep sending out reams of paper work that don't make sense, won't help when I phone them, it's only worth 30 grand, but I want it

anyone else had difficulty with these thieving twats

See #1277 above.

I had to jump through hoops to get the pot into drawdown fund ( which is the first step) took my 25% tax free - then shifted it to Standard Life.

Keep at it mate - I m convinced the Pru do everything to direct you to one of their “ advisers “ and probably get some clawback.

 

[englishman abroad]

How long have you been trying? £30k is a fair amount of money. Based on the report the other day, there is one year of your retirement covered.

Look back through your email and phone records now and note down every time you can remember that you called them. Exact time and date are better. But if you can't do that, you could say "Week commencing ...., then list phone calls, emails, web form attempts." Basically demonstrate how long you have been trying to contact them for and how many methods you used. If you make any further contact, keep a list and a brief line about what happened each time. It is easy for them to wave away someone saying "I tried to contact you lots", but much harder when you hit them with harder evidence.

Put this in a letter or email to their customer complaints department. Then spell out as a clear list what you expect from them, how you expect to hear from them and by what date (2-3 weeks is reasonable). Finish with "If this matter has not been resolved to my satisfaction by the given date, I will have no choice but to take this case up with Financial Ombudsman. I look forward to hearing from you very soon."

About a year

Had a railway pension, again only a 30 or 40 grand accesed it in 2 months all on line

See post 1277.

Just relieved its not just me.

I don't particularly need the money, its just handy when I'm back in the UK.

I pity any poor sod who's relying on it to make ends meet

 

[DaveH]

About a year

Had a railway pension, again only a 30 or 40 grand accesed it in 2 months all on line

Just relieved its not just me.

I don't particularly need the money, its just handy when I'm back in the UK.

I pity any poor sod who's relying on it to make ends meet

If they are awkward, best get it now than when you really do need it or on3 of your family has to try to get it for you.

There is probably a FSA or ombudsman rule which gives the maximum time they have to respond to a clear withdrawal request.

 

[elder]

thats the most I have seen offered for VR, 1 month per year is good never mind 6 weeks

Mine would be (at the moment):

4 weeks in lieu of notice
1 week if over 45
8 weeks if time served > 3 years
18 weeks = 3 weeks for each year served (capped at 39 weeks)
10 weeks long service leave
4 weeks annual leave

The project I’m working on has a couple of years to go so see what happens after that.

 

[Vauxie]

Just sighned up on this project till end of this year, by which time I will be 71.
Thought of retirement doesn't blow me kilt up like.
Bought a gaff back in UK but no plan to live in it cos life there seems hard and grim for people these days.

 

[DaveH]

Just sighned up on this project till end of this year, by which time I will be 71.
Thought of retirement doesn't blow me kilt up like.
Bought a gaff back in UK but no plan to live in it cos life there seems hard and grim for people these days.

Sell it then. The UK doesn’t need more empty houses!

 

[TAD]

Quick questions. I'm putting this year's savings in something like a vanguard s&s ISA before the end of the year. Saving rapidly to hopefully leave at 60 (10 years ish) and need funds till state pension age.
Can I open one in a joint name and put both allowances in.
I know the risk that money goes up and down but is there any protection if these organisations go bust.

 

[42]

Quick questions. I'm putting this year's savings in something like a vanguard s&s ISA before the end of the year. Saving rapidly to hopefully leave at 60 (10 years ish) and need funds till state pension age.
Can I open one in a joint name and put both allowances in.
I know the risk that money goes up and down but is there any protection if these organisations go bust.

Can't open ISA's in joint names. Just have to open 2 accounts for each of you, then. And if the company goes bust, you still own the shares in the likes of Apple & Microsoft, so there'll be arrangements to sort that our but if someone like vanguard goes bust we'll have a lot more to worry about.

 

[TAD]

Can't open ISA's in joint names. Just have to open 2 accounts for each of you, then. And if the company goes bust, you still own the shares in the likes of Apple & Microsoft, so there'll be arrangements to sort that our but if someone like vanguard goes bust we'll have a lot more to worry about.

Thank you.

 

[Matt Hopkins]

Quick questions. I'm putting this year's savings in something like a vanguard s&s ISA before the end of the year. Saving rapidly to hopefully leave at 60 (10 years ish) and need funds till state pension age.
Can I open one in a joint name and put both allowances in.
I know the risk that money goes up and down but is there any protection if these organisations go bust.

Have you maxed pension contributions? If not what about putting it into a SIPP?

 

[moanjam]

Have you maxed pension contributions? If not what about putting it into a SIPP?

Just done this myself definitely the best option if you don't need access to the money.

 

[Hair Flick]

Quick questions. I'm putting this year's savings in something like a vanguard s&s ISA before the end of the year. Saving rapidly to hopefully leave at 60 (10 years ish) and need funds till state pension age.
Can I open one in a joint name and put both allowances in.
I know the risk that money goes up and down but is there any protection if these organisations go bust.

If you’ve got enough, open one this side of April 5th then you can do another from April 6th in the new tax year.

Same with pensions, get it in before April 5th to affect this tax year and reduce your 23-24 tax bill if applicable.

 

[TAD]

I'll not lie, I don't understand private pensions (I think that's what a sipp is) so I need to get some advice on this. All my pensions are government final or average salary. and I also need to seek advice about if it's worth maximising additional payments in them