Conned out of pension

[Deleted User]

Had a pension from previous employer but had left their employment due to health problems over 20 years ago and forgot about it. Was going through a bad time personally few years ago and thought I might need money to help me and children out at time. Someone I knew asked about my pension and could help me get by transferring it to another company and getting large sum, didn’t think pension was worth it. Basically I let friend deal with it, got a lump sum. Found some papers from old employer I didn’t realise how much my pension was as I was given papers to sign and not being in the right frame of mind at time have signed. Is there anything I can do or have I been conned or just been naive and an idiot.

Keep_pedalling

When did this happen?

Muscle750

Firstly they wouldnt deal with a friend ref your pension without at the very least speak to you. Secondly are you saying the friend did a runner with money from your pension? If this is the case i would contact and inform the police and i would contact the original pension company to see exactly what went on etc and i can only presume the friend has asummed somehow your ID. If this is the case its a criminal matter. Ive just took my 25% TFLS and had to show my ID Driving licence Passport the lot.

dunstonh

Where is the pension now?
When taking the lump sum, was an income set up?
Was the pension transferred somewhere?
How old are you?

Brynsam

What exactly are you complaining about? That the amount you received was less than the pension was 'worth'? If so, there could be valid reasons for that - commission, tax etc - or it could have been a total con trick (which is highly likely if this was pre-6 April 2015 and/or you were under the age of 55 when it happened).

[Deleted User]

Didn’t speak to anyone just got asked to sign papers but looks like I lost £35k. As said didn’t think my superannuation was worth anything and really in bad place at time and friend knew this.

PeacefulWaters

Tricia58 wrote: »

Didn’t speak to anyone just got asked to sign papers but looks like I lost £35k. As said didn’t think my superannuation was worth anything and really in bad place at time and friend knew this.

How old were you?

Why £35k? What makes you think that?

[Deleted User]

March 2015

[Deleted User]

Age 56. Found some papers from original employer from which pension was transferred and figure was in it. Now trying to find said papers

[Deleted User]

Money received help myself and children get out of a situation. No income advised. Don’t know where it went. 59 now.

xylophone

You left a job with a DB (?) pension in around 1998?

The pension was "deferred"?

Three years ago, a "friend" ( financial adviser of some kind?) suggested that you should transfer out of this pension?

A CETV was obtained from the scheme?

The pension was transferred to another scheme?

From where did you receive the lump sum?

What happened to the balance of the pension?