I have a deferred pension from a previous employment which used to
send me annual statements but then stopped.
I contacted them and they said they don't issue statements and I
wouldn''t hear anything at all from them until I was 65.
The pension was with Standard Life, but the statements stopping
coincided with them selling it off to someone I've never heard of.

Is this normal/legal? Can I insist on period statements as to how it's
doing?

Other deferred pensions I have all issue periodic statements.

BobC

"BobC" wrote
>I have a deferred pension from a previous employment
> which used to send me annual statements but then stopped.
> I contacted them and they said they don't issue statements
> and I wouldn''t hear anything at all from them until I was 65.
> The pension was with Standard Life, but the statements stopping
> coincided with them selling it off to someone I've never heard of.
>
> Is this normal/legal? Can I insist on
> period statements as to how it's doing?

Just remember to ask them every now and again for a statement.

When you do ask, then they should send it
(unless you ask more often than around once a year).

"BobC" wrote
> Other deferred pensions I have all issue periodic statements.
>
> BobC

On 11 Aug, 12:03, "Tim"  wrote:
> "BobC" wrote
>
> >I have a deferred pension from a previous employment
> > which used to send me annual statements but then stopped.
> > I contacted them and they said they don't issue statements
> > and I wouldn''t hear anything at all from them until I was 65.
> > The pension was with Standard Life, but the statements stopping
> > coincided with them selling it off to someone I've never heard of.
>
> > Is this normal/legal? Can I insist on
> > period statements as to how it's doing?
>
> Just remember to ask them every now and again for a statement.
>
> When you do ask, then they should send it
> (unless you ask more often than around once a year).
>
> "BobC" wrote
>
>
>
> > Other deferred pensions I have all issue periodic statements.
>
> > BobC- Hide quoted text -
>
> - Show quoted text -

Tried that one, and they refuse to send one.

BobC

>> "BobC" wrote
>> >I have a deferred pension from a previous employment
>> > which used to send me annual statements but then stopped.
>> > I contacted them and they said they don't issue statements
>> > and I wouldn''t hear anything at all from them until I was 65.
>> > The pension was with Standard Life, but the statements stopping
>> > coincided with them selling it off to someone I've never heard of.
>>
>> > Is this normal/legal? Can I insist on
>> > period statements as to how it's doing?
>>
> "Tim" wrote:
>> Just remember to ask them every now and again for a statement.
>>
>> When you do ask, then they should send it
>> (unless you ask more often than around once a year).
>>
>> "BobC" wrote
>> > Other deferred pensions I have all issue periodic statements.
>>
>
"BobC" wrote
> Tried that one, and they refuse to send one.

What sort of pension is it?  Money-purchase, final salary, ... ?

On 11 Aug, 15:10, "Tim"  wrote:
> >> "BobC" wrote
> >> >I have a deferred pension from a previous employment
> >> > which used to send me annual statements but then stopped.
> >> > I contacted them and they said they don't issue statements
> >> > and I wouldn''t hear anything at all from them until I was 65.
> >> > The pension was with Standard Life, but the statements stopping
> >> > coincided with them selling it off to someone I've never heard of.
>
> >> > Is this normal/legal? Can I insist on
> >> > period statements as to how it's doing?
>
> > "Tim" wrote:
> >> Just remember to ask them every now and again for a statement.
>
> >> When you do ask, then they should send it
> >> (unless you ask more often than around once a year).
>
> >> "BobC" wrote
> >> > Other deferred pensions I have all issue periodic statements.
>
> "BobC" wrote
> > Tried that one, and they refuse to send one.
>
> What sort of pension is it?  Money-purchase, final salary, ... ?- Hide quoted text -
>
> - Show quoted text -

Final Salary.

BobC wrote:
> On 11 Aug, 15:10, "Tim"  wrote:
>>>> "BobC" wrote
>>>>> I have a deferred pension from a previous employment
>>>>> which used to send me annual statements but then stopped.
>>>>> I contacted them and they said they don't issue statements
>>>>> and I wouldn''t hear anything at all from them until I was 65.
>>>>> The pension was with Standard Life, but the statements stopping
>>>>> coincided with them selling it off to someone I've never heard of.
>>
>>>>> Is this normal/legal? Can I insist on
>>>>> period statements as to how it's doing?
>>
>>> "Tim" wrote:
>>>> Just remember to ask them every now and again for a statement.
>>
>>>> When you do ask, then they should send it
>>>> (unless you ask more often than around once a year).
>>
>>>> "BobC" wrote
>>>>> Other deferred pensions I have all issue periodic statements.
>>
>> "BobC" wrote
>>> Tried that one, and they refuse to send one.
>>
>> What sort of pension is it? Money-purchase, final salary, ... ?-
>> Hide quoted text -
>>
>> - Show quoted text -
>
> Final Salary.

Since it's based on final salary, all you need to know are the pension fund 
rules and you or your accountant can work it out for yourself surely, ie 
knowing by what percentage it goes up by every year.  What's the problem?

If it's all based on the RPI, then what you'll receive at 65 is all 
guesswork anyway.

>> >> "BobC" wrote
>> >> >I have a deferred pension from a previous employment
>> >> > which used to send me annual statements but then stopped.
>> >> > I contacted them and they said they don't issue statements
>> >> > and I wouldn''t hear anything at all from them until I was 65.
>> >> > The pension was with Standard Life, but the statements stopping
>> >> > coincided with them selling it off to someone I've never heard of.
>> >> >
>> >> > Is this normal/legal? Can I insist on
>> >> > period statements as to how it's doing?
>> >>
>> > "Tim" wrote:
>> >> Just remember to ask them every now and again for a statement.
>> >>
>> >> When you do ask, then they should send it
>> >> (unless you ask more often than around once a year).
>> >
>> "BobC" wrote
>> > Tried that one, and they refuse to send one.
>>
> "Tim" wrote:
>> What sort of pension is it? Money-purchase, final salary, ... ?
>
"BobC" wrote
> Final Salary.

Ah, I was wondering if it might be, from your use of the word "deferred" 
pension.

OK then, are any discretionary increases awarded
in deferment, or just guaranteed increases granted?
If there are any discretionary increases, ask
them every now and then for details of those.

When did you leave active service, and was the scheme contracted out of
SERPS?  [There might be mention of GMP on your deferred benefit statement.]

If you left after 1/1/1991, the minimum increase allowed on the
excess bit over the GMP is the lower of RPI increases or 5%pa
(each considered over the whole period, not each year in turn).

The minimum increases allowed on the GMP part
depends a lot on the date that you left active service.

On Aug 12, 3:01 pm, "Tim"  wrote:
>
> If you left after 1/1/1991, the minimum increase allowed on the
> excess bit over the GMP is the lower of RPI increases or 5%pa
> (each considered over the whole period, not each year in turn).
>
Just to make sure that's saying what I think.

If RPI was 2%, 2%, 12% in three successive years then the "cumulative
RPI" would be 16.5%. The cumulative 5% for three years would be 15.8%
so you'd get at least 15.8% increase.

You would get more than only 2%+2%+5% = 9.2%

Tim.

> "Tim" wrote:
>> If you left after 1/1/1991, the minimum increase allowed on the
>> excess bit over the GMP is the lower of RPI increases or 5%pa
>> (each considered over the whole period, not each year in turn).
>>
 wrote
> Just to make sure that's saying what I think.
>
> If RPI was 2%, 2%, 12% in three successive years then the
> "cumulative RPI" would be 16.5%. The cumulative 5% for three
> years would be 15.8% so you'd get at least 15.8% increase.
>
> You would get more than only 2%+2%+5% = 9.2%

Correct.

On 12 Aug, 15:48, "Tim"  wrote:
> > "Tim" wrote:
> >> If you left after 1/1/1991, the minimum increase allowed on the
> >> excess bit over the GMP is the lower of RPI increases or 5%pa
> >> (each considered over the whole period, not each year in turn).
>
>  wrote
>
> > Just to make sure that's saying what I think.
>
> > If RPI was 2%, 2%, 12% in three successive years then the
> > "cumulative RPI" would be 16.5%. The cumulative 5% for three
> > years would be 15.8% so you'd get at least 15.8% increase.
>
> > You would get more than only 2%+2%+5% = 9.2%
>
> Correct.


Thanks for all the answers posted which are all very interesting, but
the thread's wandered off from my original post question somewhat,
which was simply "was I entitled to periodic statements"?
I'm not that interested in the actual numbers, just that it still
exists, somewhere!

I've actually sorted this myself now. After many phone calls I've
finally discovered who has my pension now, and I should have been
receiving statements, but they didn't have my address!!!

BobC

No address indeed, a likely story.

"BobC"  wrote in message 
news:332471c7-5be8-4623-b40a-c874b2cdd7c7@d77g2000hsb.googlegroups.com...
| On 12 Aug, 15:48, "Tim"  wrote:
| > > "Tim" wrote:
| > >> If you left after 1/1/1991, the minimum increase allowed on the
| > >> excess bit over the GMP is the lower of RPI increases or 5%pa
| > >> (each considered over the whole period, not each year in turn).
| >
| >  wrote
| >
| > > Just to make sure that's saying what I think.
| >
| > > If RPI was 2%, 2%, 12% in three successive years then the
| > > "cumulative RPI" would be 16.5%. The cumulative 5% for three
| > > years would be 15.8% so you'd get at least 15.8% increase.
| >
| > > You would get more than only 2%+2%+5% = 9.2%
| >
| > Correct.
|
|
| Thanks for all the answers posted which are all very interesting, but
| the thread's wandered off from my original post question somewhat,
| which was simply "was I entitled to periodic statements"?
| I'm not that interested in the actual numbers, just that it still
| exists, somewhere!
|
| I've actually sorted this myself now. After many phone calls I've
| finally discovered who has my pension now, and I should have been
| receiving statements, but they didn't have my address!!!
|
| BobC
|