Pension mis selling

Thrugelmir

PENSION_MUG said:

The original pension was guaranteed at 6000 your right my salary at the time was probably about 8-9000 a year, 

If you had worked for the same company until you retired perhaps. The £6,000 would have increased by inflation over the past 30 odd years. That would equivalent to nearer £18,000 now. Without factoring in any payrises. The transfer value appears to bear no correlation to annuity rates back then either. 

PENSION_MUG

I'm only going on the information I had the information from the advisor, and the way the ombudsman keeps rebuffing all the arguments, the projections from the adviser was between 3000 up to 15000 dependent on markets, as for the transfer value my thoughts are the same as you it seems to be the contributions that were paid, once again I'm running on empty I'm no financial advisor i have only tried to do what was the right thing I've listened to advice, but still don't seem to be able to piece together an argument that washes with the ombudsman, in the current climate with coronavirus it is making it that difficult to get someone to give me advice without saying they want ridiculous percentage of money to do what I've already done as for taking it further I have to find more information different to what I have already supplied before they will look again so if there's some good pensions solicitor out there that wants to look at this and tell me what I can do I am virtually at an end to my claim and believe me I've tried to get in touch with a lot of people and solicitors firms to try to get someone take a look to see if there is any chance, thanks for your initial comment 

kuratowski

PENSION_MUG said:

if there's some good pensions solicitor out there that wants to look at this and tell me what I can do 

There's a strong chance that anyone who contacts you now saying they can solve this for you is in reality a fraudster.  Don't engage with anyone who approaches you through social media or cold calls, etc.

Thrugelmir

What has the transfer value grown to after 30 years of growth? 

John_

PENSION_MUG said:

No the pension was guaranteed at 6000 that is what the ombudsman keeps quoting that I should have reused this as it said guaranteed, when I was in discussion with the adjudicator this was one of my arguments with the transfer value only being a small amount the fund would of needed to be exceptionally good to pay 6000 without any more contributions! 

There is no possible way that a salary of £9,000 for twelve years accrues a pension of £6,000. It’s possible that this is the amount that you could expect before indexation if you remained employed to retirement.

PENSION_MUG

Look I'm scratching my head myself because this is the argument I had with the adjudicator 

dunstonh

if there's some good pensions solicitor out there that wants to look at this and tell me what I can do

You are timebarred for legal action.

Dox

PENSION_MUG said:

Realised sorry 

I'd love to see a statement which guarantees someone a particular entitlement at a point many years in the future, when inflation was unknown at the time the statement was issued. The scheme must have some pretty strange rules. 

PENSION_MUG

I actually had the deferred pension statement which was supposed to go back to the pension scheme but for some reason it never did I think because I was told it was being wound up it just got put to one side, I never knew I still had it until I went looking for evidence through files and old boxes of junk 

PENSION_MUG

What do you mean time barred for legal action as the ombudsman has already said that I can still go down the legal route and there is the Judicial Review of his decision which I still have two months to complete and in the current climate I would hope that could be extended