Letter from DWP's Compensation Recovery Unit; what is it?

Norma_Desmond

DH has just recieved a letter from the Dept. of Works and Pensions on behalf of Sun Life Financial of Canada stating that they wish to 'update your plan records' and asking him to verify his details.

Now, this all must be from at least 15 years ago, and DH can't remember (!) if he once had some sort of pension / policy with Sun Life.......can anyone shed any light on this?

We hate getting 'official' mail and just thought we'd pick people's brains before he replies.

Thanks in advance!

Edit - just wondering if this would be better on the pensions board?? Feel free to move!

RainbowChild_2

I have also received one if these...and since I have had a change of name I have had ti send birth/marriage certs and driving license to verify my ID????

They said they couldn't give me any details until my ID was verified...hope it's worth the hassle?????

magpiecottage

It is amazing how many people have pension pots that they simply forget about and providers are keen to reunite them with their owners (despite urban myths to the contrary).

Sun Life of Cananda also rescued Confederation Life in the UK when that company's parent (also Canadian) went bust in the mid 1990s so it is possible it is one of those.

If it IS Confederation Life it may have a guaranteed annuity rate which can be very valuable provided you actually take the benefits on the specified date.

So you may be in luck.

RainbowChild_2

Thanks magpie

They have told me it is an old confederation life policy and i have just found some old paperwork of theirs relating to plan - Personal Pension Protected Rights Plan. It states the number of units in the plan and I have paperwork going back to 1992. I am guessing this was taken out with an old employer around 88-90. But I wouldn't have a clue how to work out anything else about it, I guess I will just have to wait and see.:o

dunstonh

protected rights from that era would have been from contracting out of SERPS. Employer contributions are classed as non protected rights (or ordinary rights if you use old terminology).

RainbowChild_2

dunstonh wrote: »

protected rights from that era would have been from contracting out of SERPS. Employer contributions are classed as non protected rights (or ordinary rights if you use old terminology).

Thanks for your reply


What does that mean to me in laymans terms?

magpiecottage

It means there is a (probably small) pot of money to buy a pension with.

Write to:

Matrix House
Basing View
Basingstoke
Hampshire
RG21 4DZ.

A guaranteed annuity rate is likely to be applicable from the 65th birthday for a man and 60th birthday for a woman.

It will almost certainly provide a greater income than is available on the open market at current rates.

anne1206

Hi, I just got one of these letters and on researching found these posts, can any of you tell me the outcome of your letters?

Cant think why it would come from the compennsation recovery unit of the DWP
Thanks

magpiecottage

anne1206 wrote: »

Cant think why it would come from the compennsation recovery unit of the DWP

The insurance company has lost touch with you.

However, it has your National Insurance number which is unique to you.

It has therefore contacted DWP which does have your address.

DWP cannot pass on your address because that is personal data, so it writes on the insurance company's behalf.

dunstonh

Cant think why it would come from the compennsation recovery unit of the DWP

Because they have the software and the clue is in the last initial of the DWP.

anne1206

Thanks for the replies, folk, will send back letter and wait for the outcome,hopefully will be some good news:beer: