Pension redress

notabot66

Hello
I would like to know if anybody on here has under gone a pension redress calculation and then successfully challenged it when it was found to have been fraudulent to avoid payment of redress. My partner has decided she wants to challenge a calculation  completed via conguent software. I know there are many cases of ifas using this software and incorrectly calculating the redress figures, has this happened to anyone on here and if so what steps did you take to rectify the issue.

sandsy

What makes you think the calculation is not correct? 

You should receive a report that shows all of the information that was used in the calculation (the inputs). Are any of the inputs obviously wrong? If not, what else is it that makes you think it is wrong?

Presume this is for a pension transfer from defined benefit to defined contribution? Many pension transfer redress calculations are coming out as low/zero at the moment due to the economic conditions.

You might find it helpful to read this:

https://www.fca.org.uk/consumers/pension-transfer-defined-benefit/redress-calculations

notabot66

She is aware of all the facts. However the calculation failed to include numerous benefits which were well known and would have resulted in redress.

Marcon

notabot66 said:

She is aware of all the facts. However the calculation failed to include numerous benefits which were well known and would have resulted in redress.

'Well known' is not the same thing as 'in the rules of the scheme in question'. Do you mean discretionary benefits?  Could you give a couple of examples of these 'numerous well known benefits' please?

notabot66

No,
They were benefits confirmed by both the trustees and actuary who manages the scheme.

notabot66

It was a deliberate action to avoid payment. It is not an unusual tactic by unscrupulous ifas.