Tracing a potential 1970's pension.

TEW

The Martin Lewis comment about missing pensions triggered a thought in my mind. In the 1960/70’s I worked for a Company that I will call A. In the early 70’s I moved to a Company that I will call B. I believe that I may have accrued a pension with A. After I was with B for about 18 months I left and joined a Company I will call C. Within nine months I had returned, (started on 1 February 1975), to Company B at their request. Company B re-started my pension period from I January 1973. I have contacted HMRC and received an employment list, although Company C is not shown, and neither are any dates except years.

The questions I have been trying to get answered are:

i)                    Did I have an accrued pension from Company A?

ii)                  Was it transferred to Company B?

iii)                Was it left as a deferred pension in Company A?

Company B by pre-dating my start date for their pension scheme when I returned to them would not have picked up any previous transfer from Company A.The Company A have stated that they have no records for me (I just have sent them the HMRC letter). I have contacted both A and B on their relevant point, and I am waiting a reply. The elapsed time is the main obstacle. Company B require the transfer details from Company A. That Company are stating that they have no information.If the two Companies remain intransigent then I do not believe that I can refer this matter to The Pension Ombudsman. I think that I will have run out of options. Has anyone any contrary ideas?

FlorayG

I remember my dad trying to do almost exactly this for a company he worked for in the 1960s. He got sent round and round in circles for months and eventually gave up because everyone he contacted said the pension was with somebody else. Best of luck

molerat

In many cases prior to 1975 you only kept a pension entitlement if you were with the company for your whole career.  Up to 1988 you would likely to have had to be with the company for 5 years to keep any pension entitlement and prior to 1978 needed to be over 26 with that 5 years service.  It was only after 1988 that the 2 years service criteria came into force.

Marcon

TEW said:

The Martin Lewis comment about missing pensions triggered a thought in my mind. In the 1960/70’s I worked for a Company that I will call A. In the early 70’s I moved to a Company that I will call B. I believe that I may have accrued a pension with A. After I was with B for about 18 months I left and joined a Company I will call C. Within nine months I had returned, (started on 1 February 1975), to Company B at their request. Company B re-started my pension period from I January 1973. I have contacted HMRC and received an employment list, although Company C is not shown, and neither are any dates except years.

The questions I have been trying to get answered are:

i)                    Did I have an accrued pension from Company A?

ii)                  Was it transferred to Company B?

iii)                Was it left as a deferred pension in Company A?

Company B by pre-dating my start date for their pension scheme when I returned to them would not have picked up any previous transfer from Company A.The Company A have stated that they have no records for me (I just have sent them the HMRC letter). I have contacted both A and B on their relevant point, and I am waiting a reply. The elapsed time is the main obstacle. Company B require the transfer details from Company A. That Company are stating that they have no information.If the two Companies remain intransigent then I do not believe that I can refer this matter to The Pension Ombudsman. I think that I will have run out of options. Has anyone any contrary ideas?

Before April 1975, 'deferred' pensions were extremely rare - usually it was just a refund of personal contributions, often with no interest, if you left before actually reaching retirement age. Unless you have documentary evidence to prove you did, and that you had a 'deferred' pension when you left Company A, I'm afraid it's a non starter. They aren't being intransigent; they are simply telling it like it is.  

You are correct - you are way out of time for any complaint to the Pensions Ombudsman, but given how long ago all this might (or might not) have happened, they wouldn't be able to do anything in the absence of documentary evidence from you that you had a pension entitlement to investigate. See https://www.pensions-ombudsman.org.uk/sites/default/files/decisions/PO-26268.pdf for a case which has considerable similarities in terms of date etc.

Brie

The "pension" you had with A might have been an Equivalent Pension Benefit.  These was in place with a number of firms in the 1960-70s.  If that's what you had I wouldn't worry too much about looking for it.  The ones I've seen normally paid out a total lump sum under £10 for a couple of years service.  The most I've ever seen was around £200.   The major employer that I'm aware of had these before getting "proper" pension schemes that others describe and one of the earlier version (started early 1970s) required a minimum of 10 years continuous service after age 26 before allowing employees to join prior to that age and needing 5 years continuous service.  

I remember dealing with one deferred pensioner who had been all excited about getting their EPB thinking it would be enough to pay for a cruise but then realised it wasn't enough for a fish supper.  

Not so fun fact - the early employer's schemes were very sexist and put women at a major disadvantage.  It was a rare thing for them to continue to employ a woman once she married and no maternity leave so with either of those things the service was broken and thus no pension accrued at all.  Should she manage to accrue anything she then had to leave service 5 years before a man did and had a lower monthly payout due to actuarial calculations and having a lower salary to base everything on.