GMP and deferred pension

MikeFloutier

As promised, I can now feedback the results of my enquiries to Barclays/WTW regarding my "step-up" due at my GMP date on 3 Feb 2019.

The last page of the (now closed) thread about this can be found at - https://forums.moneysavingexpert.com/discussion/4736856/barclays-final-salary-pension-gmp-excess-revaluation-anti-franking&page=10 .

On post #165 the estimated "step-up", that we all agreed was reasonable, was shown as £5,363.31.

This morning I received a letter from WTW stating that my step-up would be £5,362.72.

This is very pleasing and will be an additional encouragement to others waiting for Step-ups to their Barclays FS pensions.

I'd like to say a big thank you to all who have helped me through this maze; especially Xylophone, Snowman & Mrs Chaucer and not forgetting Martin Lewis who started all this and has been such a great champion of the individual over the corporation.

Thank you one and all!

xylophone

that we all agreed was reasonable, was shown as £5,363.31.

This morning I received a letter from WTW stating that my step-up would be £5,362.72.

The cheapskates.....:rotfl:

Happy Christmas!

DT2001

Mike, thanks for the update. Enjoy!
BW to you and Xylophone for 2019. Your guidance and patience in this very complex area has been excellent.

xylophone

BW to you and Xylophone for 2019.

Have a happy and successful 2019.

owly1

Just to conclude the story
I wrote a killer letter explaining all the quotes /hassle etc and asking them (at advice of pensions ombudsman) to escalate my dissatisfaction.
Eventually I got a big apology and : the full lump sum as originally offered plus lump payment of back pension from last May
In this respect they said that if I had got the info originally I would have retired early so therefore they backdated my retirement accordingly
The actual reasoning behind the multiple calculations was not very clear or understandable in their letter but they agreed that my situation was new to them and they would be adjusting their future
advice to allow for any others in similar situations

Unless somehow I have missed out on something bigger at 65 gmp re-evaluation I would say it’s a good result
But I didn’t get to keep the cash for long as the bank of mum and dad was raided for house deposit

Ho hum -thanks to all for previous comments and help:T