Serious Illness Lump Sum Pension - revoked

dunstonh

I pretty much know that we wont get anything from them as the dont care and are a corporate the computer says no.

Its not like that.

The Barclays DB scheme pays out defined benefits on a range of scenarios.    Each of those is "defined".  No more, no less.  That is what you agreed when you joined the scheme and that is what you should expect from it.

Your initial information was wrong as it didn't factor in your spouse.  Once they realised that error, they corrected it to factor in your spouse.     You are getting exactly what they scheme should have given you based on those defined benefits.

It isn't that they do not care or a computer making a decision.  It is the scheme rules that you agreed to when you joined the pension.  The rules exist to protect all concerned (you, the other scheme members, the employer).   How they feel about you and your situation doesn't come into play.

They have offered to transfer my entire lump sum to my husbands pension, which means we can take the money out but will end up paying tax as he has already taken his 25%

The tax free cash he took would be against his uncrystallised funds he had at that point on that particular pension.  It doesnt prevent him taking 25% on other uncrystallised funds from other pensions.

But at least we get the whole amount I guess, no expert so dont know if this is a good idea or not

It would depend on how it is being done and what your husband's needs are.

Is the whole pension defined benefit or is there some defined contribution in there as well?  Many of the Barclays staff I have dealt with over the years had both DB & DC.  The DC usually had some GMP built into it as well but some of it was excess funds (no safeguarded benefits) that would be paid or could be transferred.      If you have multiple bits, it does get complicated (if what I have just written confuses you then yes - it is that complicated)

Ayr_Rage

I think you should be seeking professional financial advice regarding the implications in transferring the pension.

whiskyfrank

Lemon Drizzle, Yes I know and don't expect anything from them realistically, but if I can at least stop them communicating in the way they have with me to someone in the future, Ive at least helped.

I had a response from MacMillan as they helped pen a letter their words were "they've never ever encountered such a profound lack of compassion from a company handling an end-of-life client."

Also some more background WTW Barclays have now also sent a letter in which they have tried to deter me from contacting the Pensions Ombudsman, that seems a rather strange thing to do, I've let the contact we have at the PO know this.

xylophone

With respect, it’s got nothing to do with them being corporate and not caring. 

Rudeness and lack of tact and compassion when communicating with a scheme member who has been distressed and inconvenienced by your company's error is surely unacceptable?

The regulations of the scheme have to be administered correctly. 

Indeed they do!  It is the lack of correctness in the calculation of the SIHLS that has caused this problem.

What on earth has happened to "done by/checked by"?

molerat

Unfortunately with the current compensation culture no one is willing to say sorry as that is admitting they have done something wrong and opens them up to claims, we are all reaping what the entitled have sown.

dunstonh

I had a response from MacMillan as they helped pen a letter their words were "they've never ever encountered such a profound lack of compassion from a company handling an end-of-life client."

Compassion really shouldn't come into play.   They should be polite and respectful and consider your vulnerability, but any expectation they should show compassion by honouring an incorrect amount is wrong.

xylophone

but any expectation they should show compassion by honouring an incorrect amount is wrong.

 It does not seem to me that  Macmillan were  suggesting that the incorrect calculation should be honoured.

Surely they were commenting on the attitude of WTW staff towards the OP (which appears to have been dismissive and complacent in the face of the error they themselves had made)?

whiskyfrank

Moved on a little. The FCA who don't investigate specific consumer complaints, are actually doing so in this case as there is an issue with Consumer Duty. As are the Pensions Ombudsman