Transfer Nightmare

Cotta

Today they reverted back offering me the total sum I would have made at my new company had my pension transferred across on schedule. This sounds like a fair offer.

atush

Generally speaking, the point of comp is to put you in t he position you should have been if it hadnt happened- so yeah fair.

But you should get more later for the dataprotection breach.

dunstonh

Cotta wrote: »

Today they reverted back offering me the total sum I would have made at my new company had my pension transferred across on schedule. This sounds like a fair offer.

That is a result and acceptable. (as long its the "higher of" in case what you were left on did better)

Still dont know why they chose to separate the data protection breach as they could easily have just added the sentence "and we offer you a goodwill gesture of £300 for the data protection breach

Cotta

dunstonh wrote: »

That is a result and acceptable. (as long its the "higher of" in case what you were left on did better)

I'll know by Wednesday, not quite sure I understand how they will attempt to work this out?

Cotta

Didn't quite get the response I was expecting, all the company did was advise me on what my policy made with them during the delay period. We had agreed that they would check what my policy would have made at my new company and reimburse this amount if it exceeded their amount.

xylophone

Didn't quite get the response I was expecting, all the company did was advise me on what my policy made with them during the delay period. We had agreed that they would check what my policy would have made at my new company and reimburse this amount if it exceeded their amount.

Even if you did better out of the delay, this is not the whole point.

The whole point is that regardless of the financial position of the pension, the delay was unreasonable, you were inconvenienced in terms of "chase up time" and worry caused by their incompetence and you are seeking some compensation for that.

In addition, there was a data protection breach for which they were responsible and for which you are also seeking compensation.

dunstonh

If you did better out of the delay, then the redress would be zero as you are financially better off. In that scenario, you would expect a £50-£100 goodwill gesture. (exc data protection issue).

Cotta

The company have said now that I will have to do the leg work in terms of finding out how pensions with my current company performed and reporting this information back to them. Does this sound correct?

dunstonh

Cotta wrote: »

The company have said now that I will have to do the leg work in terms of finding out how pensions with my current company performed and reporting this information back to them. Does this sound correct?

Yes. You will probably need the help of the receiving company as they can usually do this for you.

Comparing positions is a common thing with complaint/redress cases. So, they should be set up to do it. The front line staff may moan and grumble but the back office staff would have done things like that before.

Another way is to build your fund selection on trustnet and back date the performance to the neares date.

atush

So you should look at the diffence (once you or the new company have worked that out) plus 300.

Or if you did better than at your new company, 350-400 in total.