Mum can't get her full pension pot even though she hasn't taken anything

lovinituk

buckster wrote: »

So does this mean she has wasted 9 years of payments? Was it a bad decision to wait until 69?

No!!!! If she hadn't worked those 9 years then her pension would be nine sixtieths of her final salary less than it is now!

atush

I think you need to make an appt with her doctor and go with her to discuss her personal LE. Heart attack plus unspecified major illness could mean her LE is severely impacted (as your comments about your father being left with nothing etc seem to say).

So, get that information and if her LE is much lowered, then do go to an IFA forthwith and start the process of finding out if she and he will be better off with her transferring out. She can start this now by asking Barclays for a transfer value.

In the meantime, why does your father have no pension? Is he still working? If so he should open a PP immediately. It could b e boosted once she retires by using some of her LS from the Barclays pension if there is one.

atush

Plus, if they are just going to retire her with no uplift, yet put her thru 6 months of tests and stress for nothing, then I would have her start a formal complaint thru HR. Their behavior towards her seems to have been fairly appalling this last 6 months?

They knew she was above Barclays pension age thru this whole thing, so I would ask for compensation of some kind- an extra years service, or some sort of redundancy pay.

buckster

My father had a stroke 3 years ago and had to retire there and then. He never had a private pension but does get the state pension. My mum only gets £70 a week state pension because an employer years ago didn't register her correctly when she was a cleaner so she never paid the NI at the right rate.

dancingfairy

I would consider going to see an IFA. I belive the website unbiased lists some in your local area so it would be worth having a look. I think it might be worth paying someone to make explain all the options and make sure she is getting the best deal (both for herself an her husband).
df

xylophone

Are either of your parents entitled to Attendance Allowance - would they be entitled to any pension credit?

http://www.ageuk.org.uk/Documents/EN-GB/Factsheets/FS48_Pension_Credit_fcs.pdf?dtrk=true

woolly_wombat

jamesd wrote: »

It doesn't mean that she has wasted nine years of payments. her pension entitlement continued to increase for each year worked.

Her health is a very significant consideration because defined benefit pensions like this one work on the basis of average life expectancy. Someone who knows that they have reduced life expectancy can often do considerably better by asking for a transfer value and transferring out. It depends on how bad their health is, the worse it is, the greater the benefit of transferring out.

After a possible transfer out, she could do things like getting an enhanced annuity that pays more than normal annuities would, more the less good her health is.

Get quotes for a joint enhanced annuity as your father has also unfortunately suffered a stroke. That means an annuity would continue to be paid until the last partner dies.

WW

woolly_wombat

atush wrote: »

Plus, if they are just going to retire her with no uplift, yet put her thru 6 months of tests and stress for nothing, then I would have her start a formal complaint thru HR. Their behavior towards her seems to have been fairly appalling this last 6 months?

They knew she was above Barclays pension age thru this whole thing, so I would ask for compensation of some kind- an extra years service, or some sort of redundancy pay.

I suspect this has more to do with the fact that compulsory retirement at 65 was phased out for most workers in 2011 and the onus is on the employer to provide a valid reason to dismiss an employee irrespective of age.

Barclays may well have followed correct procedure but I suggest that your Mum calls ACAS to make sure:
http://www.acas.org.uk/helpline

Call our Helpline on 0300 123 1100 for free support and advice

Whether you are an employer, employee or representative, you can call the Acas helpline for free and impartial advice. Simply get in touch and we'll provide you with clear and confidential guidance about any kind of dispute or query that you have about relationship issues within the workplace. You may want to know about employment rights and rules, best practice or you may need advice about a dispute. Whatever it is, just give us a call, our team are on hand to respond within the hours below.

WW

atush

They may have followed correct procedure but they may not esp if they have suddenly 'remembered' she is old enough to draw her pension. AS the tests were supposedly for ill health retiral.

PensionTech

I would just mention that your mother won't have a statutory right to a transfer value, because she is above the normal retirement age in the scheme. That is not to say that Barclays won't let her transfer out - just that they don't have to. I must say that in my experience schemes don't tend to provide transfer values for people above NRA - but given your mother's health concerns, and the distress they've caused by going through this unnecessary ill-health procedure, the trustees may well decide to make an exception and let her transfer anyway.