MVA Can anyone tell me it's not just robbery?

casey_junior

TMFTP wrote: »

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Casey - did your projections put things into "real terms" for you? If not, it's no wonder your eyes popped. Or, rather, are popping now...

The figures were as I stated, with no reference to real terms. However I have accepted years ago that they were unrealistic but I would keep stressing the point that no bonus has been added since 2001,and it does need bonus to increase the final value. And the discrepancy between the annuity value I will receive and the what would have been the value of the preserved pension had I let it rest in the original scheme is what galls me.
It was quite a good payday for the FA brought in by our then company management when they closed our workplace, I think their only intention was to get us moved out of their scheme.
Thank you all for the interest you have shown in my posts.

dunstonh

but I would keep stressing the point that no bonus has been added since 2001,and it does need bonus to increase the final value.

That is is possible but it normally ties in with those with GMPs and GARs. Did you ever get it confirmed in writing that there was no GMP or GAR or was it, as i last recall, information that wasnt known yet. Remember these are unlikely to appear on statements. You have to ask the questions.

It was quite a good payday for the FA brought in by our then company management when they closed our workplace

They usually are. However, you mention late 80s. So, it would probably have been massively more than it is today for the same sort of thing.

I think their only intention was to get us moved out of their scheme.

If they were employed by the firm to do that then that would have been the case.

casey_junior

dunstonh wrote: »

That is is possible but it normally ties in with those with GMPs and GARs. Did you ever get it confirmed in writing that there was no GMP or GAR or was it, as i last recall, information that wasnt known yet. Remember these are unlikely to appear on statements. You have to ask the questions.



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I asked the Questions re GMPs and GARs, I got a statement of present fund value and a projection of possible worth on retirement next year which has to be used to buy an annuity, so by omission there must be no GAR. As I was still contracted in am I right in assuming there can be no GMP?
That seems to be my lot, bare minimum, am I justified in feeling bad about this?