Can Someone Help My Grandad

chamb7914

I have been given a list of pension plans my partners grandad has which he hopes will all mature in Feb 08. They are with Pearl assurance, Abbey Life and Barclays. I have no trouble downloading the Pearl assurance claim form, but the details i have on the paperwork for Barclays and Abbeylife are dead numbers. Does anyone know or could poiint me in the right direction of where and who to get in touch with, as the clock is ticking and gramps is a bit panicky. Many thanks to all and any that can help.

Graham
:money:

polybear

For Barclays try: 0845 603 1893
For Abbeylife start with: 0800 587 5053 and go from there.
Good luck.

polybear

ps Don't go with their deals without first checking the "Open Market Option" (i.e. transferring the money to another provider). It can make a worthwhile difference, as can an "impaired life annuity" (i.e. taking into account health history etc.)

dunstonh

He needs to look at the open market option (OMO) on those.

Get an IFA out and the IFA will take care of obtaining the figures and then giving the OMO comparison. Also, as polybear says, impaired life, reduced health (even asthma, high blood pressure or high cholestoral) or smokers can impact on what you get (higher than standard). Even if there isnt, the open market rates could be better.

Pearl, if its pre 1988 may have guaranteed annuity rates and in some cases a guaranteed minimum fund value on maturity. They also had a section 32 that tended to be worth keeping until maturity (indeed, you often didnt get the choice as Pearl refuse to allow early commencement). However, the guarantees may only apply on certain rates so if you dont ask the right figures, they may not offer the guarantee.

EdInvestor

They will all write to him in a few months' time anyway.

How much money is involved roughly?

Checking for guaranteed annuity rates is very important.