Hours of Work History Query Re Pension Option Statement

51andclimbing

I recently requested a Pension Option Statement from my pension fund. When I received the statement I noted that the 'Hours of Work History' shown was incorrect.

Incorrect Details Shown On Pension Statement:-
From 02/05/1977 until 31/12/1990 at 30.00 hpw
From 01/01/1991 until 29/05/1992 at 35.00 hpw

Correct Details:-
From 02/05/1977 until 30/04/1987 at 35.00 hpw
From 01/05/1987 until 29/05/1992 at 30.00 hpw

Can anyone please advise me how this would affect my tax-free cash sum and reduced annual pension? The Statement says its an amalgamated pension fund if that helps at all.

Many thanks:smileyhea

Debt_Free_Chick

That part of your pension built up before 1987 will be bigger and that part built up after then will be smaller.

You need to contact the pension administrators, get the error corrected and then get a new statement/illustration.

51andclimbing

Thank you for your quick reply. I have typed up a letter to send off tomorrow and am looking forward to a new pension statement with a higher cash lump sum and annual pension.

:j Might finally be able to do all the repairs on my house!! :j