can you help me with my frozen pension

white_paint

i have a pension that has been frozen for some 27 years because the company went bust i am almost 60 years old and i am trying to claim this pension i only payed into for 4 years i have asked for a lump sum but they have asked for my last monthly pay slip from 27 years ago which i do not have they say they need it for tax reasons there is no way can i get this pay slip as the firm has gone i have asked the tax office can they help but they only keep tax records for 6 years.

xylophone

I must say that I have never heard of a deferred pensioner having to provide his last pay advice.

Try the Pensions Advisory Service in the first instance?
http://www.pensionsadvisoryservice.org.uk/home.aspx

dunstonh

It is very common for a pension scheme to ask for a current payslip or P60 or more frequently a P45. This is to allow them to set the right tax code. I have not heard of one asking for a historical pay slip before. Are you sure that is what they are asking?

white_paint

:mad:to dunstonh

thank you for your reply.
i have payed into this pension from 1986 to 1992 yes i am sure they are asking for a historical pay slip they said without it no lump sum just £120 per year this pension is with standard life and i feel they are going to rip me off .

dunstonh

Is this an executive personal pension by any chance?

They are not going to rip you off. EPPs have the potential to offer greater tax free cash than the standard 25%. This is based on your income for the period the pension covered.

atush

So, they need your total income for those years, not your pay slips.



do you save your own tax records such as self assessment forms? Can HMRC tell you the tax you paid in those years (they may keep basic facts like this and not old returns?)? Got an old mtg application from then (or does your bank)?

white_paint

Hi

no they are asking if i was not a controlling director they need at least one salary within the last five years of service together with any additional taxable benefits received ending 5 april 2006.
Confused.

dunstonh

That is the criteria for seeing if you can get a greater tax free cash payment. If you cant supply it then dont worry. It wont stop the pension being paid. It means you will get standard terms (25%).

white_paint

as i understand they naw say i will get £120 a year no lump sum.
the total amount in my pension is aprox £4,300 as it is such a small amount i wanted to claim the lump sum with no yearly pension do you think this would be aloud.thank you so much for your help.