Friend 'lost' £20k after transferring Pension?

Meeper

gokuaiba wrote: »

In fact, it smells of miss selling to me.

You make a very convincing argument.......oh wait.

atush

gokuaiba wrote: »

In fact, it smells of miss selling to me.

I think you need to see your GP a bout that nose problem lol.

While it initially it had a bit of a 'smell', the subsequent facts provided means mostly likely not. Now way to tell 100% when the facts are third hand and not completely available.

dunstonh

In fact, it smells of miss selling to me.

Wouldnt want your nostrils.

Please give us your expert opinion on why you think it was mis-sold and what areas are wrong.

buel

Hi,
Just to go back to the issue of my friend's pension being transferred to Met Life, I seen in a newspaper lately that there was a 'Notice of Application to the Court' by Met Life. Please can I ask what this is and would it have any impact on my friend's pension?

atush

Worry about your pension, let him worry about his.

You never gave us proper details, so we can't help you really.

jamesd

Forget the thoughts that it was in any way mis-selling or a loss for your friend.

The facts you have provided show that it was not. The facts that have been asked for that might show it was or wasn't more definitively have not been provided even though they were asked for: knowing exactly when it happened is critical because it could just have been a drop due to the drops that happened to just about everyone in around may 2008 then again in late 2008. A pension similarly invested to then would have largely recovered its value by now, and it would be just due to the normal ups and downs of markets, not any mis-selling.

Met Life is asking for permission to move some insurance business from the UK part of the business to the overall European one. This is unlikely to have any material effect on your friend. It's a routine sort of transfer that needs court approval to verify that the protections of the two businesses for the liabilities are similar.

buel

Thank you James, much appreciated.

Atush, I lost contact with my friend so I was not able to get those details that were asked for. I was curious about the Met Life court application.

'Worry about your pension, let him worry about his'? Im glad I'm not your friend then.

atush

If you were my friend, you'd know about pensions and yours as I would have helped you with it (and have helped mine that needed it lol).

But even now you are worrying for this friend who is no longer a friend. I guess I was just saying, to worry about yours ie are you paying enough in, are you saving outside a pension into S&S isas and other investments. What will it pay you in retirement? Have you made enough NICs? Can you bridge the gap between state pension age and an earlier age you want to retire at?

We would have all helped more, but as James said, we could not as you never gave the details required to do so.

So stop worrying and think of something more pleasant.