Prudential AVCs LGPS - Rhondda - Cynon - Taff Local Authority

Silvertabby

Wentthedaywell? said:

Thanks again Silvertabby. It's not knowing my annual pension that's the problem. I get an update about August for the previous year, so it's out of date (and I may want to retire June) and doesn't allow for the actuarial reduction. But good to know any spare can be added to a pension. Would there be charges for this? It'd be a tiny amount.

No, no charges.  

Silvertabby

stephenadarglas said:

Wentthedaywell? said:

Thanks for your explanation Silvertabby, I understand now. My (new) pension will be tiny, for a couple of years post flexible retirement working, so I don't need it in a hurry.

My issue is I need to keep the AVC below 25%, but Pensions won't tell me what the 100% amount is until I tell HR that I'm intending to retire and they will give a quote. I don't want to reveal my intentions yet. I've done a rough calculation as I understand it, but not sure if I'm doing it correctly. I want to make any adjustments earlier, rather than panicking later or having to work extra months (not paying into the AVC) to make it all balance.

(Sorry stephenadarglas, I didn't mean to hijack your thread! )

@Wentthedaywell? no worries.  Silvertabby has given us some critical advice to ponder.

You are both welcome - but please don't use the A word or you'll get me into trouble with the mods ! 

bioboybill

I am in the same boat as the OP. I had the money deducted from salary for the last 3 months and nothing showing at Prudential, so £1800 missing. I wouldn’t mind but this seems to happen about every 6 months or so. Our finance dept assured me the money had been sent, so I emailed the Pru. The next day I received a reply to say that it was due to migrating systems and the lady had contacted the relevant department to urgently put it right on my account. A few days later she called me to apologise and assured me it was all in hand although she admitted she had no reply from the relevant department. I accepted the explanation, though I now think I was a bit rash and should have held out for compo. I will check later and if not rectified might complain again. Like I said, this happens fairly regularly without the system migration, but most people probably don’t check often. I expect to take early retirement in 21 months, so it matters to me now.

bioboybill

Just found this: https://www.thisismoney.co.uk/money/pensions/article-7887021/Why-wont-Man-Pru-pay-Anger-readers-pension-cash-held-insurer.html

bioboybill

And had a look in my account and they haven’t added the money as promised, so another complaint is going in.

stephenadarglas

@bioboybill You should have had a letter from Prudential after your first complaint suggesting what happens next if you are not happy.  I assume you complained through the procedure on-line.

bioboybill

stephenadarglas said:

@bioboybill You should have had a letter from Prudential after your first complaint suggesting what happens next if you are not happy.  I assume you complained through the procedure on-line.

They promised to send me a letter when they phoned a few days ago, but haven’t received it yet.

stephenadarglas

@bioboybill same procedure as me however I received the letter duly.

bioboybill

I have messaged them complaining again the last 2 days and had no reply whatsoever. They replied the next day previously. Still not had the letter they promised me either. I think their excuses are a load of cobblers btw.

bioboybill

Their website has been down for "essential maintenance" for 2 days. I did hope that when it came back my account would be up to date, but nope! And no replies to my messages from 3 and 4 days ago. Absolute chancers!
Oh, I got their letter yesterday. It said that they were pleased the complaint was resolved to my satisfaction, but I could still go to the Ombudsman if I wanted to. I'm not sure how them doing nothing is resolving my complaint!