Is this compensation offer fair?

Zumiweb

My partner has received a compensation offer for a mis-sold pension transfer out of the NHS in to a private pension back in the 1980s. Whilst the amount sounds sizeable (£80k), it is based on the almost 6k a year pension she's missed out on since retirement (5 years, so almost 30k) plus 10 years of that same pension going forward (a little over 50k). However the standard life expectancy of a 65 year old is 86.5 according to the ONS  - is it normal / reasonable for the company to use 10 years as the forward part of this? If that's the standard then fair enough, but before we accept, she just wants to be sure they shouldn't be using a more likely life expectancy - if she buys an annuity or even just used it up at the rate it's worth (i.e. 6k p.a.) then after 75 it would be worthless (we're not that financially daft, but that is the principle we're querying). In general terms, should one grab the offer (28 days to decide, one time only offer, other slightly pressurising statements in it of course), or ask for a recount? Any advice welcome.

OldBeanz

The first thing I would do is to ask for an extension of another couple of months on the basis of the ongoing national emergency and the inevitable issue of getting anything done.

Zumiweb

Yes, we've considered that. A rather unconvincing phone call to the financial ombudsman "that sounds alright to me" and the pension ombudsman "check the factsheets on our web site" leave her no more confident. Maybe an hour with an IFA (virtually of course)? 

Linton

Is the £6K/year what she would have got from the NHS pension or the difference between what she would have got from the NHS pension and what she should have got from the private pension?  She is not going to be compensated for the amount of pension she actually received (or should have).The £80K is equivalent to a commercial inflation linked pension of about £2.7K.  It doesnt make sense just to divide the lump sum by the number of years.

ffacoffipawb

Linton said:

Is the £6K/year what she would have got from the NHS pension or the difference between what she would have got from the NHS pension and what she should have got from the private pension?  She is not going to be compensated for the amount of pension she actually received (or should have).The £80K is equivalent to a commercial inflation linked pension of about £2.7K.  It doesnt make sense just to divide the lump sum by the number of years.

Also £80k received outside ofva pension (presumably) is worth about £100k inside a pension. Even more for a higher rate taxpayer.