Lost Pension - Opted out of SERPS 1988 - Midland Bank Penison Scheme

yalders5

Hi I wonder if anyone could give me some advice.

Background.

I opted out of SERPS around 1988 (give or take a year) aged early 20's. I set up a pension scheme with the then Midland Bank. I moved house several times, married and never thought about it again.

Now I am wondering where it is, or indeed if it still exists. Obviously part of my NI contrinutions should have been going into it and still should be?

Where do I begin trying to find where it is?

Any advice would be greatly appreciated
Thanks!

dunstonh

Where do I begin trying to find where it is?

Ask HSBC. Give them all your past details, date of birth, NI number and they can do a search.

dime81

There's also a pension tracing service through the DWP: gov.uk/find-lost-pension (sorry can't post links yet!).

yalders5

wow! That was a quick response! Would I find a Pensions Department at HSBC and call them? Are they who replaced the Midland then? Sorry for appearing so dim! Will google now.

yalders5

Rudi, thanks, yes I saw theat, but unfortunately I had no dates or any info to put on the form, and it asked about the employer rather than the SERPS opt out pensions.

dime81

yalders5 wrote: »

Rudi, thanks, yes I saw theat, but unfortunately I had no dates or any info to put on the form, and it asked about the employer rather than the SERPS opt out pensions.

No probs. You can also call them if the internet form is not quite right. They look for personal pensions too, so not just employer/occupational schemes. I'd take both routes, at least then you'd have 2 sets of people trying to help.

Pension Tracing Service
Telephone: 0845 6002 537
Telephone from abroad: +44 (0)191 215 4491
Textphone: 0845 3000 169
Monday to Friday, 8am to 6pm

yalders5

That is great thankyou. I will let you know if I ever get to the bottom of it!

xylophone

I opted out of SERPS around 1988 (give or take a year) aged early 20's. I set up a pension scheme with the then Midland Bank.

I take it that you were not employed by Midland Bank?

yalders5

Not employed by them. Have called the number of pension tracing. They said the Midland would have used a pension company and I need to find the name of that company before they can trace. They have given me the telephone number of National Insurance to see if they can help from their end. So watch this space!

dunstonh

HSBC are midland bank. They will have a record of all life and pension policies sold through them. Midland Life Ltd became HSBC Life (UK) Ltd.

You dont ask for their pension department as that would be for employees. You say you had a pension with Midland Life and are after details. They will know where to look from there

yalders5

Right!

I have just spoken to National Insurance. I did opt out in 1987, then the money went into the Midland Bank, which then became HSBC Life. In 2002 for some reason I have opted back in to the state pension. (not that I knew about it!!) but thats fine as long as I can find it. Very very helpful at the N.I. He has given me the number of HSBC Life and also my pension policy number. How marvellous is that. I now have to call HSBC Life and they will tell me whether I am a millionaire. Will do that tomorrow.

I have pondered over the years on and off how to locate my pension, and it all seemed like such hard work, but thanks to you lot, it only took a few mins!

Thank you all. (Will let you know if I am rich!) or not.