Standard Life pension ppi

bensonhedges

I have had a pension with Standard Life since 1999. I have just read this year's statement and it includes payment protection which is paid by cancelling units in my plan. I cannot remember agreeing to this when I took out the pension and none of the original documentation I have mentions it.

Although I have searched many pages across the web on PPI mis-selling I can find nothing about pension providers - does anyone know if they can be claimed against?

Thanks

dunstonh

I have just read this year's statement and it includes payment protection which is paid by cancelling units in my plan.

It does not include payment protection. It includes waiver of premium (or waiver of contribution is it is sometimes called). It is not PPI.

I cannot remember agreeing to this when I took out the pension and none of the original documentation I have mentions it.

Impossible. It is on the personal illustration supplied at point of sale. It is on the copy sent with the cancellation rights. If you used an adviser then it will be in their report (its a mandatory to recommend it). Plus, unlike PPI it is medically underwritten at point of sale. So, you would have been asked the usual medical questions, supplied your GP details and signed the application in case they wanted to check anything with the GP.

Although I have searched many pages across the web on PPI mis-selling I can find nothing about pension providers - does anyone know if they can be claimed against?

That is because it is not PPI. It wouldnt matter if it is though as there is nothing wrong with having PPI if sold and set up correctly. Just as there is nothing wrong with having waiver of premium.

You clearly think it was mis-sold otherwise you wouldnt have posted. So, why do you think it was mis-sold?

bensonhedges

I was hoping for advice but it seems I got a lecture instead.

Whatever you may wish to call it, Standard Life call it "payment protcection" on my annual statement.

As the "point of sale" was 13 years ago, forgive my memory for not having complete recall of the details of that appointment and all that was discussed.

Furthermore, see the box on the left....

[Deleted User]

bensonhedges wrote: »

I was hoping for advice but it seems I got a lecture instead.

Dunston has a very forthright manner, but nothing he posted was inaccurate.
You still haven't said why you think this insurance cover may have been mis-sold?

dunstonh

I was hoping for advice but it seems I got a lecture instead.

You didnt get a lecture. You got a few corrections and explanation.

You think it is PPI, when it isnt. You think it just appeared but that is not possible. You cant recall the events of 13 years ago but what to make an allegation against someone based on the little you think you remember.

Unlike PPI, the advice on pensions and waiver of contribution is recorded under that individual. That individual will suffer the cost of any complaint you raise. If there is wrong doing then that is fair enough. However, if you are just thinking of putting in a fraudulent or try-it-on complaint then shame on you. You are potentially harming someone's career and/or livelihood. All because you are mixing up products and have a few wrong ideas. This is the ugly side of compensation chasing.

now that is a lecture

As the "point of sale" was 13 years ago, forgive my memory for not having complete recall of the details of that appointment and all that was discussed.

This is vital information. You are proposing putting in a complaint about something you cannot remember as it was 13 years ago. How is that fair or reasonable?

Furthermore, see the box on the left....

Sorry, what box?

[Deleted User]

dunstonh wrote: »

Sorry, what box?

He means the one which says " forum newbie" and he was suggesting you should have gone easier on him.
(Of course, your response was to go into a full-on rant!;))

By the way, you didn't make it plain that the IFA who sold him the pension would have to pay the FOS for any complaint made to them, even if it found in his or her favour.
As you say, the ugly side of compensation chasing.

dunstonh

He means the one which says " forum newbie" and he was suggesting you should have gone easier on him.

oh. I dont get that box as I am on the original forum skin and not the default. They dont put all the kids stuff on the original skin.

McKneff

Its okay for the forum team to say 'be nice to Newbies' but Newbies also have to play their part by not being hoity toity/defensive when they get answers that are factual and something that they dont want to hear.

You havent come here for a group hug.

[Deleted User]

McKneff wrote: »

You havent come here for a group hug.

Ha Ha Ha Ha:D

magpiecottage

Moneyineptitude wrote: »

By the way, you didn't make it plain that the IFA who sold him the pension would have to pay the FOS for any complaint made to them, even if it found in his or her favour.
As you say, the ugly side of compensation chasing.

Unfortunately FOS (and its adjudicators who get paid by the case "closed") indulge in a practice analagous to a car clamping scam and charge firms simply to tell them they were right all along and have no case to answer.

McKneff wrote: »

You havent come here for a group hug.

Obviously - if they did there would be a group hug emoticon.