Contracted out information

samtoby

I have been to HMRC to get my Dads contracted out information as I have had a couple of funds contact me. The lastest one was a BC and E holiday stamps payment. 

I have since contacted HMRC to ask for contracted out information for my Dad. 

They have returned this information:

06/04/1987 - 05/04/2010 GENERAL PORTFOLIO A7001005K

It then says they can give me no more information. 

Does this mean anything significant or is this just a term they use because the last one looks like a reference? Or am I looking at a reference for HMRC?

Tommyjw

The only search term on google (other than this thread!) points that Scheme reference (A700..) to Royal London.

https://www.scribd.com/document/651552218/5599696-L1

samtoby

I have just been googling General Portfolio and looking around and it looks like it was a pension fund 

Marcon

samtoby said:

I have just been googling General Portfolio and looking around and it looks like it was a pension fund 

It's something known as an 'appropriate' personal pension, which in English means it could be used to 'contract out' of the State Additional Pension. HMRC should be able to tell you which insurer was given this reference number by the Inland Revenue (now HMRC), although it's worth checking with Royal London if they recognise the number as 'one of theirs' (could be quicker than trying to get a response out of HMRC).

Probably worth contacting them by email rather than relying on someone on the end of a telephone to have the answer at their fingertips: https://www.royallondon.com/existing-customers/contact-us/write-to-us/

samtoby

Marcon said:

samtoby said:

I have just been googling General Portfolio and looking around and it looks like it was a pension fund 

It's something known as an 'appropriate' personal pension, which in English means it could be used to 'contract out' of the State Additional Pension. HMRC should be able to tell you which insurer was given this reference number by the Inland Revenue (now HMRC), although it's worth checking with Royal London if they recognise the number as 'one of theirs' (could be quicker than trying to get a response out of HMRC).

Probably worth contacting them by email rather than relying on someone on the end of a telephone to have the answer at their fingertips: https://www.royallondon.com/existing-customers/contact-us/write-to-us/

HMRC have said they will give me no more information about my Dad as they hold 'no relevant information'.

I did have a small amount paid from Scottish Life when he died but I can not see how the amount would account for the time of 1987 - 2010?

xylophone

https://www.theguardian.com/money/2001/dec/08/pensions.jobsandmoney

Did you see the article above?

General Portfolio, which was sold to French insurer Gan in 1990 for £289m and renamed Gan Life in 1994.

Windsor Life took over the policies when Gan closed to new business in 1998. There are still more than 300,000 policyholders. Windsor chief executive John Wybrew says there was mis-selling.

Pensions: General Portfolio plans had no value until 60 regular premiums had been paid (equal to five years) although customers were only made aware of this when they attempted to transfer plans or they ceased paying. The Personal Wealth Plan was only suitable for someone who was certain to remain outside a company scheme until retirement. Again, many policies lapsed worthless.

 Given the information in the above article, there may be nothing to find but  as Windsor Life was taken over by Reassure,

It may be worth a phone call  or letter of enquiry. A7001005K may be a policy number?

 ReAssure, Windsor House, Telford TF3 4NB.


0800 073 1777

Marcon

samtoby said:

Marcon said:

samtoby said:

I have just been googling General Portfolio and looking around and it looks like it was a pension fund 

It's something known as an 'appropriate' personal pension, which in English means it could be used to 'contract out' of the State Additional Pension. HMRC should be able to tell you which insurer was given this reference number by the Inland Revenue (now HMRC), although it's worth checking with Royal London if they recognise the number as 'one of theirs' (could be quicker than trying to get a response out of HMRC).

Probably worth contacting them by email rather than relying on someone on the end of a telephone to have the answer at their fingertips: https://www.royallondon.com/existing-customers/contact-us/write-to-us/

HMRC have said they will give me no more information about my Dad as they hold 'no relevant information'.

I did have a small amount paid from Scottish Life when he died but I can not see how the amount would account for the time of 1987 - 2010?

Try Royal London first, and if that fails, go back to HMRC and ask them to confirm to which scheme/insurer the reference number A7001005K was allocated by them. This isn't about your Dad; it's about their (general) records, so the question you ask and how you phrase it is really important. A lot of people wrongly believe that HMRC has 'full details' of the current value of all their pensions, so making it clear you are simply asking them to confirm which insurer was given this number to use for one of their appropriate personal pension plans is vital.

xylophone

and ask them to confirm to which scheme/insurer the reference number A7001005K was allocated by them. 

https://helpfiles.thepensionsregulator.gov.uk/members/schemefurtherdetailsamend/#:~:text=An example reference number is,numbers followed by 2 letters.

An example reference number is: 12345678RL.

A Pension Scheme Tax Reference (PSTR) is the unique reference given to a scheme by HMRC when a scheme has been registered for tax relief and exemptions. It has 10 characters made up of 8 numbers followed by 2 letters. A scheme's PSTR is the one that evidences its status as a registered pension scheme.

The number OP has does not fit the above format but may be old system?

hyubh

xylophone said:

and ask them to confirm to which scheme/insurer the reference number A7001005K was allocated by them. 

https://helpfiles.thepensionsregulator.gov.uk/members/schemefurtherdetailsamend/#:~:text=An example reference number is,numbers followed by 2 letters.

An example reference number is: 12345678RL.

A Pension Scheme Tax Reference (PSTR) is the unique reference given to a scheme by HMRC when a scheme has been registered for tax relief and exemptions. It has 10 characters made up of 8 numbers followed by 2 letters. A scheme's PSTR is the one that evidences its status as a registered pension scheme.

The number OP has does not fit the above format but may be old system?

A7001005K is an ACON, so the APP equivalent of a COSR scheme's SCON. Different thing to a PSTR, but what HMRC/NICO will have things under.

samtoby

Royal London say its not them the number has no relevance. Reassure say no as well. 

samtoby

Would DWP hold anything that would help?