Possible mis-sold pension

mrkinkladze

25 years ago my wife (gf back then) took out a private pension with General Portfollio, the company has been sold twice and is now held by a differant company.

At the same time I took out a endowment policy, which I paid for 4 years. At the time I wanted to cash in the policy, well aware that there would be some penalties. I was advised that the money I had accrued could be moved to my wifes pension with no reduction to the amount I had in the endowment policy. rather than lose the money we agreed to this. Was this possible?

I have managed to locate the pension and have been advised that the only pension that is held is SERPS, I am not up to date on pensions but I presume that SERPS is paid off your NI conts?

The company involved cannot locate any payments made by my wife and the only details they hold on my endowment policy is that it is closed. Where do I stand and is it possible to get the endowment money back?

dunstonh

At the same time I took out a endowment policy, which I paid for 4 years. At the time I wanted to cash in the policy, well aware that there would be some penalties. I was advised that the money I had accrued could be moved to my wifes pension with no reduction to the amount I had in the endowment policy. rather than lose the money we agreed to this. Was this possible?

Unlikely but theoretically possible. Sometimes companies will waive fees if the money is retained within the company.

I have managed to locate the pension and have been advised that the only pension that is held is SERPS, I am not up to date on pensions but I presume that SERPS is paid off your NI conts?

If there is only former protected rights then that would mean no personal contributions have been made.

he company involved cannot locate any payments made by my wife and the only details they hold on my endowment policy is that it is closed. Where do I stand and is it possible to get the endowment money back?

You need to ask them what happened to the surrender value. That is the starting point from which the decisions need to be made.