Direct Benefit Pension & Financial Advisor Fees.

family4tunes

xylophone There was no mention of arrears, I could have take it aged 60 if I was aware of it, but because it had been misplaced (documents) until 2024 (6 years later/aged 66) All the pension between the 2 dates became dismissed.
 

xylophone

In your earlier post, you mentioned a pension of roughly £200 a month and now you mention £152 a month.

Are you saying that the scheme permits  you to commute part of the pension for a PCLS?

Or did you over estimate in the earlier post?

If commutation is permitted, what is the commutation factor? That is, how much lump sum for each £1 of pension forgone?

family4tunes

xylophone I haven't commuted any lump sum to date. On the 1st CETV I received it had an option for a PCLS. This CETV was done before I reached the companies NRA which was aged 60. (docs quoted 2018)

As mentioned, this info was all mislead & forgotten until Oct 2023 when I realised I had the pension  and contacted the trustees for a new CETV. When that came it did not give any option for a PCLS just a pension sum or a transfer value.

The 1st figure I quoted was an estimate from memory (£200) the second figure £152 a month is the yearly pension divided by 12.

Hope this helps.

xylophone

Ask for a maximum PCLS quote?

family4tunes

xylophone Thanks for that, I will write to them and request that and see what they say, any updates I'll let you know. Thanks again.