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Friends Life: must be computer error?
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Blue_Parrot
Posts: 282 Forumite


I have a tiny pension fund from a previous employer. This was with Friends Provident, since taken over by Friends Life. Every year in June/July they send me an update of the pension fund value. This time last year it was nearly £12,000. (I have all the correspondence going back to 2005.)
Today I received a large pack from Friends Life - they have my retirement date as December this year. My date of birth, scheme name, member number are all correct.
However, it says twice in their documentation that the fund's value is £0.00.
This has to be some stupid computer error, right? They don't answer the phone at weekends so I can't ask them today.
Today I received a large pack from Friends Life - they have my retirement date as December this year. My date of birth, scheme name, member number are all correct.
However, it says twice in their documentation that the fund's value is £0.00.
This has to be some stupid computer error, right? They don't answer the phone at weekends so I can't ask them today.
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Didn't they transfer business to Aviva? Could be yours was moved to the new platform?
Guess you will have to wait til monday and call?0 -
1 - Have you drawn any out?
2 - Have you transferred the pension?
if no to either then it will be an error. There have been no product movements with FL to Aviva unless instructed (typically via your adviser).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Unless there's a section for 'former protected rights' and this is £0 (and it always was). There could be another section therefore which shows £12,000?0
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Blue_Parrot wrote: »I have a tiny pension fund from a previous employer. This was with Friends Provident, since taken over by Friends Life.
No, Friends Life was a new name for Friends Provident. See https://en.wikipedia.org/wiki/Friends_Provident.
It was just a rebranding.
Warmest regards,
FAThus the old Gentleman ended his Harangue. The People heard it, and approved the Doctrine, and immediately practised the Contrary, just as if it had been a common Sermon; for the Vendue opened ...THE WAY TO WEALTH, Benjamin Franklin, 1758 AD0 -
Blue_Parrot wrote: »Today I received a large pack from Friends Life - they have my retirement date as December this year. My date of birth, scheme name, member number are all correct.
However, it says twice in their documentation that the fund's value is £0.00.
This has to be some stupid computer error, right? They don't answer the phone at weekends so I can't ask them today.
I remember that there's some special rule about not providing a pension-fund projection when within one year of stated retirement date.
I appreciate that this is not what you're complaining about, but is it in any way relevant?
Warmest regards,
FAThus the old Gentleman ended his Harangue. The People heard it, and approved the Doctrine, and immediately practised the Contrary, just as if it had been a common Sermon; for the Vendue opened ...THE WAY TO WEALTH, Benjamin Franklin, 1758 AD0 -
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FA wrote:It was just a rebranding.
Try these for starters as background reading:
http://www.theguardian.com/business/2009/aug/11/friends-provident-resolution-takeover
http://www.bloomberg.com/news/articles/2014-03-18/resolution-profit-rises-59-renamed-friends-as-cowdery-departs
http://www.thesundaytimes.co.uk/sto/business/article1486966.ece
And yes, obviously it is a ridiculous error by the embarrassing humans that inhabit the industry (computers generally don't make mistakes).0 -
I phoned them this morning and finally (after hearing Vivaldi's Four Seasons - Spring, twice) got through to a human being, who said "It was a small blip".
Is 'small blip' code for 'stupid computer error in our favour'?
That only took 18 minutes. Quite fast, really.0 -
"It was a small blip".
Which must have been a great comfort to you....:)0 -
Blue_Parrot wrote: »I phoned them this morning and finally (after hearing Vivaldi's Four Seasons - Spring, twice) got through to a human being, who said "It was a small blip".
Is 'small blip' code for 'stupid computer error in our favour'?
That only took 18 minutes. Quite fast, really.
Being someone who works in pension admin, although not in the type you're asking about, I'd say it was a simple error that didn't get checked properly.
Probably was summat computer came up with that either they all trust (horror ��) or the operators aren't allowed to change (even more ��).
If they all believe their systems are right then :eek:.
Always read & check to the best of your ability. Even I can make mistakes.It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0
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