Frozen pension issue

Tomsk60

Received a letter regarding a company pension I had years ago I put in 8 years and was one of the last to join apparently the fund is going to be empty when I retire due to pensions being paid out of it and management charges leaving me with nothing at retirement  is this correct because like other people I have a few frozen pensions

xylophone

What exactly did this letter say and where was it from?

What kind of pension was this?

When were you a member?

With which schemes are your deferred pensions held?

dunstonh

 is this correct because like other people I have a few frozen pensions

Frozen has a specific meaning and cannot apply to money purchase plans (those with investments).  Do you actually mean frozen or deferred?    Or are they money purchase schemes (with investments)?

What does the letter say imply a number of things.  

TVAS

It sounds like the charges are high and the performance is bad so there will be no fund because it is eaten up by the charges. You don't have FROZEN pensions please stop using that term it is incorrect. You have a deferred pension of x in a final salary scheme it will be revalued in line with inflation until your retirement age. If the pensions are money purchase you need to look at the charges. The FCA has said there should be a cap of 0.75% total charges. Look to pay less than this and if you switch to another fund it may have a lower charge. Depending on when the plan started there maybe a ongoing adviser charge (OAC) you may be able to write to the provider to remove this charge from your plan if you are not receiving ongoing advice from an adviser or you are not satisfied. Good luck.