Waiver contributions/PPI

samantha3767

Does anyone know if you can claim back waiver contributions (which to me is similar to PPI) on private pensions?

amersall

Hi,if you post your question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=19&order=desc&page=7

You will get a better response as the people on there know more about this than on the ppi board.

magpiecottage

Waiver of contributions is completely different to PPI. It is a provision to enable contributions to a personal pension (or life policy) to be paid if you are too sick to work.

It is almost always considered good advice.

dunstonh

samantha3767 wrote: »

Does anyone know if you can claim back waiver contributions (which to me is similar to PPI) on private pensions?

No.

Waiver of premium is long term insurance offered by life assurance companies. It is not PPI. PPI is short term insurance offered by general insurance companies. Waiver is underwritten at point of sale, PPI isnt. Waiver pays the pension directly until your selected retirement age. It does not overlap with any existing benefit from the employer. It is monthly premium (and in some cases you get tax relief depending on date taken out) and not single premium. Employment status is irrelevant. Basically, all the things that can get a PPI policy classed as a mis-sale do not apply to waiver.

Plus, today, whilst you dont see it much any more, it is still an FSA expectation that all pension sales have it recommended and documented as to why it wasnt included if it wasnt taken.