Profile Pensions.

clive0510

HI. Got a letter in the post this morning from profile pensions, asking me to complete the enclosed forms to find any lost pensions contributions. never heard of these people. just wondering if any one here has had dealings with them?. 

Browntoa

Chuck in bin 

You can trace pensions for free yourself if needed

clive0510

thanks for that. I did suspect that the only thing its good for was lighting the fire, but just wanted to confirm.

Paul_Herring

https://www.profilepensions.co.uk/pension-advice-cost

We will charge 3% on the first £25,000, 2% on anything between £25,000 - £50,000 and 1% on anything over £50,000. There is a maximum fee of £2.5k per policy.

Save yourself up to £2.5K by doing it yourself: https://www.moneysavingexpert.com/reclaim/reclaim-lost-assets-free/#pensions

clive0510

thats interesting. thanks for the tip.

Paul_Herring

There is a maximum fee of £2.5k per policy.

£25K×3%=£75

+£25K×2%=£50

(£2,500-£75-£50)÷1%=£237,500

Of course, if your (missing) pensions are worth more than £287,500, the silver lining is that they won't be charging on anything over that...

clive0510

ok I see. I've had various employers over the years. been made redundant twice. and I'm certain I dont have any forgotten pensions any where. sorting through my paperwork draw............

Marcon

clive0510 said:

ok I see. I've had various employers over the years. been made redundant twice. and I'm certain I dont have any forgotten pensions any where. sorting through my paperwork draw............

Don't you believe it - it is certainly worth checking. More help if needed: https://www.pensionsadvisoryservice.org.uk/content/publications-files/uploads/Tracing_your_pension.pdf