Pension Opt out, cant get money back

Deep_Geezer

Hi, i'm hoping someone on here can give me some advice. About a year ago, I started to work through an agency, with my wages dealt with by an umbrella company.I am a construction worker. When I left the agency, I decided to opt out of the pension scheme and get a refund, although I think it was put through as retirement, as I am over 55. It only amounts to about £300 but after 3 months since I opted out, nothing has been paid back. I've made numerous phone calls, and I get the same stuff every time, the IT system has been down, the person dealing with my case is out of the office, So and so will get back to you, admin will send you an update etc. etc. I'm out of work at the moment, and desperately need this money back with Christmas round the corner, and I feel i'm getting nowhere with my phone calls, as nobody seems to know or care what is happening. I want to take this higher, but I have no idea who can help me. Is there an Ombudsman or similar that I can get in touch with? I'm at the end of my tether now and don't know what to do. I would be extremely grateful to anyone who might be able to give me some advice here. Thanks in advance

molerat

http://www.pensionsadvisoryservice.org.uk/

dano17439

you only get a refund if you opt out up to 30 days of being auto enrolled

Malthusian

you only get a refund if you opt out up to 30 days of being auto enrolled

From the OP's statement "I think it was put through as retirement, as I am over 55" it's possible they didn't go down that route and are instead paying it out as retirement benefits, e.g. a small funds lump sum or uncrystallised pension fund lump sum. Although I can't be sure.

OP: there is a Pensions Ombudsman who can look at your problem, but the first stage is to formally complain to your pension scheme. The Pensions Ombudsman will only look at the case once you have given the scheme the opportunity to sort it out themselves. This would mean formally complaining to the pension scheme, setting out the problem in full and asking them to rectify it. If their response is not satisfactory, or if they don't respond within a reasonable time, you can go to the Ombudsman.

Unfortunately if it gets as far as the Ombudsman then we're talking about months, not weeks. Your best hope to get this resolved before Christmas is to immediately complain to whoever is responsible - ensure your letter is sent by Recorded Delivery and contains the words "For avoidance of doubt, this is to be treated as a formal complaint" - and include the reason you need the money as soon as possible. Your case may get escalated to someone who will deal with it properly.

It would be helpful to know whether the pension scheme is run by an insurer or other financial services company, and if so, whether you've been speaking to them or your ex-employer.

I think it is a long shot you will get the case resolved quickly and I would plan for Christmas without thinking about the £300.

woolly_wombat

You could try molerat's suggestion to contact the Pensions Advisory Service first.

Their helpline no is 0300 123 1047.

Then I suggest you contact your former employer in writing to ask for your payment without further delay.

atush

except I would not ask for a refund, i'd ask for my retirment benefits- as the employers would be included that way, and you'd get 25% tax free?

dunstonh

i suspect this is a mix up in the terminology. The OP is asking to opt out but its not an opt out that he wants. He wishes to commence his retirement benefits and take a 100% lump sum.