What is it and what can I do with it ???

thebullsback

I have emailed you Dave .Thank You .

thebullsback

Hi everyone ,Aviva have still NOT answered this question even though I have emailed it to them 3 times the last time via Dave- Aviva company rep ( who has been very helpful )why wont they answer my question? They did make an offer to telephone me to discuss the matter but I am not good on the telephone and also prefer things in writing .
One other interesting thing that happened was that I have had a second " Retirement Illustration " sent out too me that this time includes a Triviality Option that the original Illustration did NOT include.
Here is the question that Aviva will not answer
I have an original 1999 document confirming the main retirement benefit I can expect at age 65 is a pension of £693.72 a year revalued at 3% GMP / 5% other. I have been advised that in the 25 years from 1999 to the original scheme retirement date in 2024, the effect of revaluation of £693.72 at those particular fixed rates would yield a new total pension at age 65 of around £2,000 per year. If the revaluation does not work that way please confirm how it does actually work. Can you therefore confirm the revalued pension benefits I can expect at age 65 if I allow the contract to run its original intended course?
Any thoughts anyone ??
Thank you for reading .

xylophone

It seems to me that you have the right to a written reply.

In the first instance, discuss the matter with the the PAS.
http://www.pensionsadvisoryservice.org.uk/

I have been having another look at the details and figures you have given and I cannot make sense of them.

How long were you in the scheme that gave rise to this pension?

Do you have the statement of deferred benefits provided when you left the scheme?

thebullsback

I believe I was in the scheme for about 8 year .I have a photo copy of the original Norwich Union " Policy Schedule - Deferred Annuity Replacement commencing 7th March 1999

agarnett

I think everyone at Aviva is in holiday mode now ... they'll probably start doing a bit more work by the end of September and then by mid November they'll be fully into Christmas mode.

Could be well past next Christmas before you get anything sensible out of them ... what a shower :mad:

xylophone

One other interesting thing that happened was that I have had a second " Retirement Illustration " sent out too me that this time includes a Triviality Option that the original Illustration did NOT include.

But would it be open to you to take it?

http://www.litrg.org.uk/tax-guides/pensioners-tax/how-do-i-cash-in-my-small-pension-trivial-commutation

xylophone

What were the years that you actually worked for the company?

Presumably when you left the company, the scheme had not yet been wound up?

Therefore you left with a deferred pension?

What did the statement of deferred benefits on the date you left the scheme actually show in respect of GMP to that date and the excess?

thebullsback

I believe that this pension was paid for via AVCs I took out to run alongside a Group Pension Scheme I was in during my employment with a company in the nineties.
The Company was German owned and they set up a Personal Pension Scheme to which the individual plus the Company contributed . I also took out AVCs which I think this policy may be.
I think it ran from 1992 till 1999 and I think I paid about £80 a month

xylophone

Personal Pension Scheme

This doesn't seem to fit with the information given in your first post about a Defined Benefits Scheme replacement policy.

Have you tried TPAS?

thebullsback

ok Forget my last post as I was Guessing as too what it was .