Section 32 problems gmp and aviva

xylophone

Those who are deferred pensioners of their occupational schemes ( ie those who chose not to transfer out) are similarly affected by GMP rules.

Those who are members of occupational schemes who reach GMP age and draw the new state pension will find that unless their scheme has taken on the obligation, they will receive no indexation from the scheme on that part of their pension that represents their GMP or anything above 3% on that part of their pension that represents post 88 GMP.

towag

xylophone wrote: »

Those who are deferred pensioners of their occupational schemes ( ie those who chose not to transfer out) are similarly affected by GMP rules.

Those who are members of occupational schemes who reach GMP age and draw the new state pension will find that unless their scheme has taken on the obligation, they will receive no indexation from the scheme on that part of their pension that represents their GMP or anything above 3% on that part of their pension that represents post 88 GMP.

So why would a policy have written and stated in it that the GMP at SPA "shall" and "will" increase by 5% or 3% compound per annum from the benefit date and at SPA in the policy and annual statements? I noticed when Aviva took responsibility for these NU S32 pensions everything changed.... The bonus packs with no bonus, no mention of EPR, but still having the benefit date stated at the 60th year, and even they were sporadic, missing out a year here and then two years there and then finally approaching the 60th year, the standard letter stating that it is now time to make arrangements for the forthcoming retirement date only to find out that its been deferred by Aviiva till the 65th year....Either the policy is null and void or it is not, so why bother having one in the first place? It is in effect a contract that is agreed by both parties at that time of transferal and set in stone so to speak.... Nothing can change that....Policy holders haven't changed the goal posts, but the occupational scheme or Aviva can by ducking the issue by stating "no obligation" or changing the contract without the policy holders agreement? Sounds like a load of bowlocks, legislation or not....Then again I'm looking at it from outside of the box.... As Aviva like to act outside of the contract originally agreed in the NU policies.... Everybody you talk to about Aviva say with an indraw of breath that they are the worst when it comes to honouring a lot of things, so it comes as no surprise now, as it is the norm....

xylophone

You may find this old thread of interest.

https://forums.moneysavingexpert.com/discussion/1089865

towag

xylophone wrote: »

You may find this old thread of interest.

https://forums.moneysavingexpert.com/discussion/1089865

It was, and I've a gut feeling that Aviva could be liable for the NU contract for the EPR that I have....

Lekkguy

Lekkguy wrote: »

Still no sign of my letter either.

Well,2 weeks on and still no letter,getting bored now.:(

towag

Lekkguy wrote: »

Well,2 weeks on and still no letter,getting bored now.:(

Believe me Aviva are notorious for it...!!!
Eight weeks minimum to sort anything out.... All part of the psychological wearing down process that they hope will make you give up....
They hate having to pay out on these policies, now its coming back to bite them in the rear end...
Why don't you write to Mark Wilson their CEO?.... He's worth a few bob...
https://www.thisismoney.co.uk/money/markets/article-3514805/IN-MONEY-Aviva-chief-executive-Mark-Wilson-handed-3-1m-pay-rise.html?login#readerCommentsCommand-message-field
I'm sure he'll be only too glad to sort out these annoying tactics Aviva like to dish out...
Just think, one month of his annual salary would be more than enough to pay for my whole life pension including the EPR... Including yours to.... :cool::D

waterstar

towag wrote: »

. All part of the psychological wearing down process

I have to agree, partial replies with statement re "more to follow", then I have just waited 30 days for a very simple calculation of current values and associated annuity calculation.

And of course the great second class post trick: I live within the M25 and most correspondence from Aviva seems to arrive seven days after the date of the letter.

towag

waterstar wrote: »

I have to agree, partial replies with statement re "more to follow", then I have just waited 30 days for a very simple calculation of current values and associated annuity calculation.

And of course the great second class post trick: I live within the M25 and most correspondence from Aviva seems to arrive seven days after the date of the letter.

With email and speed of the internet there is no need to rely on the post unless they have no internet connection?.... Unless its something legal that has to be signed to finalise a payout?.... I suspect being Aviva their complaints department is either overwhelmed, or they don't have enough dedicated handlers to sort out the mess they are in with all these Section 32 policy holders now claiming their backdated pensions....;) Somehow I doubt that....

Lekkguy

Yippee!,the letter has arrived was dated only 2 days ago.:j

towag

Lekkguy wrote: »

Yippee!,the letter has arrived was dated only 2 days ago.:j

:beer: ? I doubt that to....;)