Serps at Aviva

xylophone

In your other post you mention that you had and still have a DB Replacement Policy.

You also had

GP Personal Pension Plan insured by Norwich Union Life Ins Soc
Commenced on28 April 1992 .Matures on 5 Feb.2024 Your current Premium is £18.89pm Your employer is paying £37.78pm.

"Company B" AVC Scheme Insured by Norwich Union commenced 28 April 1992 Your current premium is £85.53pm

Norwich Union Commenced on 30 April 1996 £68.42pm (equivalent to £12 per week net).......??is this something to do with tax relief or something?

You indicated that the largest of the above was used to buy years in the NHS Scheme that you joined in 1999.

Are you now saying that all of the above were transferred to the NHS?

In addition to the above you have this former "protected rights" policy?

Pre 95 Individual Personal Pension with Aviva made up entirely of payments whilst I was contracted out of Serps from September 1993 to October 2000.

dunstonh

when I rang Aviva today they said nil running charge and nil exit charge just 0.87% commision ?

That is not possible. Think about it logically, if they were paying 0.87% p.a. commission then the annual charge cannot be zero. Otherwise, how would it fund the commission?

What they almost certainly meant was that there are no explicit charges and the annual management charge is 0.87%.

neilvw

The full post by the OP was:

thebullsback wrote: »

I "Think" this is what happened.
Started work for "Company A" in 1989 joined there pension scheme.
"Company A " went bust in approx 1991.
Later in 1991 "Company A" was bought by "Company B"
"Company B" introduced a worked Pension Scheme with a difference as in it was a PERSONAL PENSION but "Company B" would contribute into it ...I have this document
GP Personal Pension Plan insured by Norwich Union Life Ins Soc
Commenced on28 April 1992 .Matures on 5 Feb.2024 Your current Premium is £18.89pm Your employer is paying £37.78pm.
"Company B" AVC Scheme Insured by Norwich Union commenced 28 April 1992 Your current premium is £85.53pm
I then asked "Company B" finance department if I could pay more into my pension and they said they would check up for me.
I got the following illustration and went ahead with it
Norwich Union Commenced on 30 April 1996 £68.42pm (equivalent to £12 per week net).......??is this something to do with tax relief or something?in
I was them made redundant around June 1999.
In October 1999 I joined the NHS and was immediately made a member of the NHS pension scheme in Oct 2000 I bought 7and a half years pension rights in the NHS pension scheme using I believe the largest pot of my "Company B " pot .
Aviva still have my remaining pots one of which I believe is the one I am trying to find out about .

The £68.42 per month might be a top-up to the GPP or AVC or could be a separate plan. So:

1989-1991 (ish) - Company A DB scheme
* Company A went bust, bought by Company B
* DB scheme replaced by an Aviva DB replacement policy (i)
* OP is awaiting clarification of the nil revaluation in deferment (see separate thread here)

(ii) 28 April 1992 - started Aviva Group Personal Pension with Company B
(iii) 28 April 1992 - started Aviva AVC plan (defined contribution) with Company B

(iv) around 1993 - started Aviva rebate policy (rebates paid in until around 2000)

30 April 1996 - topped up (ii) or (iii) with an additional monthly premium? or started a fifth Aviva contract (v)?

1999 - made redundant from Company B, started work with NHS, transferred at least one of the above Aviva contracts into the NHS DB scheme, which leaves as live policies the DB replacement plan (i), the rebate plan (iv), plus none or one or two of (ii), (iii) or (v) - if (v) was ever started.

Hopefully Aviva will confirm all the live policies when they respond to the OP's email. And if they don't make clear which policies have been terminated (transferred out), the OP could double-check that with them.

thebullsback

One of the policy's from " Company B" was used to buy years when I joined the NHS in 2000 so I guess which ever of pots had £19,680.34 in it at the time was used as that is the cost to me of buying the NHS years .

thebullsback

The policy in question in this posting I have discover is fully funded by DSS payment from 1993-2000 so is NOT connected to "Company B" in my other post.I was mistaken in thinking it was.

neilvw

thebullsback wrote: »

One of the policy's from " Company B" was used to buy years when I joined the NHS in 2000 so I guess which ever of pots had £19,680.34 in it at the time was used as that is the cost to me of buying the NHS years .

It's really hard to tell. You clearly didn't use all the pots to buy added years with the NHS in 2000 as the rebate plan (iv) still exists. Mind you I'm not sure whether that one would have been eligible to transfer out to a DB scheme under the rules at the time.

But perhaps it was the GPP (ii) and the AVC (iii) [plus the possible top-up plan (v)] which were transferred in together? Presumably you've not been getting statements for the AVC or GPP plans for many years? That's not always definitive though.

We will have to await Aviva's response.

neilvw

thebullsback wrote: »

The policy in question in this posting I have discover is fully funded by DSS payment from 1993-2000 so is NOT connected to "Company B" in my other post.I was mistaken in thinking it was.

It was connected to Company B in the sense that some of the national insurance you (and they) paid while you worked for them was rebated by the Government and put into plan (iv) each year. The plan relates to contracted-out employment with Company B.

thebullsback

I the past I have asked Aviva about ANY policy's they have belonging to me and I am confident that they are as follows.

1=Deferred Annuity Replacement ( the policy in my other post)
2=Pre 95 Individual Personal Pension ( This Post -made up of DSS )
3=Taylor Made GMP Plan UK AVC (pre 01/92) (No Idea what this is -only got £615 in it )
So I think 1 and 3 are from "Company B" and 2 is defiantly DSS.

neilvw

Your number 2 plan [what I call (iv)] relates to contracted-out employment with Company B - the DSS/Government rebated some national insurance into it. You and the company didn't pay into it directly though.

thebullsback

neilvw wrote: »

Your number 2 plan [what I call (iv)] relates to contracted-out employment with Company B - the DSS/Government rebated some national insurance into it. You and the company didn't pay into it directly though.

Yes I see that now .
And my "1" plan must be made up of funds from my pension in "Company A) when it went bust?