where has pension gone

EdInvestor

Has a complaint or enquiry been made to the insurance company (which one is it?) If so, what did they say?

Regarding the tax he is paying now, is that related to his state pension?That is the only thing that would be activated at 65.

binzy

EdInvestor wrote: »

Has a complaint or enquiry been made to the insurance company (which one is it?) If so, what did they say?

Regarding the tax he is paying now, is that related to his state pension?That is the only thing that would be activated at 65.

yes she have been in touch with the insurance company and the only thing showing on thier system is the cheque number nothing else no bank, no sort code, or who its was paid to even,so as far as thier concerned they have paid in full,my sister dont want to post name of company yet as she is going to let the people she contacted this morning a chance first, now the confusing bit to me that is as cant understand it the £34 is not income tax it is something to do with custom and excise and started at 65 years old, all very confusing

cheers binzy

ulster_exile

Sounds like the "tax" is actually a contracted out deduction (COD) being made from the additional component of the State pension. Where people were contracted out of SERPS, instead of the State paying the SERPS pension, the pension scheme/policy with which a person contracted out is responsible for paying the contracted out element.

On reaching 65, HMRC advise the pensioner of their Basic State pension, then on top of this there is the additional component earnt from SERPS. HMRC calculate the total SERPS entitlement, then deduct from this total the contracted out element which the pension scheme/policy should be paying.

If correct, that proves that your brother-in-law was contracted out (which he already knows because this is what the Protected Rights are in respect of). Department of Work and Pensions (DWP) at Newcastle (a department of HMRC) should know who holds the liability to pay this element of the pension.

Is it possible your brother in law transferred his Protected Rights out of the pension scheme (ie the second cheque)?

binzy

Is it possible your brother in law transferred his Protected Rights out of the pension scheme (ie the second cheque)?

well if we can find out what happened to the second cheque we would i think have all the answers but how can anyone get hold of this other cheque and cash it, transfer it, etc

If correct, that proves that your brother-in-law was contracted out (which he already knows because this is what the Protected Rights are in respect of). Department of Work and Pensions (DWP) at Newcastle (a department of HMRC) should know who holds the liability to pay this element of the pension.

my sister was on to these this morning and they are investigating it as she told them the story in full and as far as they were concerned the insurance company still has the money as they have not notified them of any payout of a pension which they are supposed to do so the saga continues

cheers binzy

binzy

ok guys
going to have to sign off for now as off on my holidays but thanks to everyone for thier help will update you on my return

cheers binzy