Where did the unexpected pension money come from?

LookingForAnAnswer

Hello. I’ve been reading old paperwork for my pension pot with ReAssure, formerly Legal and General. When business was transferred from L&G to Reassure in 2020, my pot increased from £14k to £27k in the space of three months and during the  pandemic! Why did this happen? Obviously a nice discovery. I haven’t paid in any money since about 2011.
thanks in advance.  

Flugelhorn

bonus? 

I have a pot with the wesleyan and they quote 2 different figures - one is guaranteed and the other is a transfer value - the second figure is about 3 times the first  (complete fog to me ) - maybe they were quoting you different things?

LookingForAnAnswer

Flugelhorn said:

bonus? 

I have a pot with the wesleyan and they quote 2 different figures - one is guaranteed and the other is a transfer value - the second figure is about 3 times the first  (complete fog to me ) - maybe they were quoting you different things?

Thanks. I don’t know. It’s since increased to about £36k when I checked online yesterday 

Marcon

Maybe ask the provider...?

dunstonh

Did you have a with profits fund with L&G?  

With profit funds show the value without final bonus accrued to date.  ReAssure don't do With Profits.   So, the transfer value would have been with the final bonus accrued to date and Reassure would show that in their "current" value.

LookingForAnAnswer

dunstonh said:

Did you have a with profits fund with L&G?  

With profit funds show the value without final bonus accrued to date.  ReAssure don't do With Profits.   So, the transfer value would have been with the final bonus accrued to date and Reassure would show that in their "current" value.

Oh yes, you're absolutely right. I trawled through the paperwork again and there was a final bonus from L&G. I didn't spot it before. Thanks forum members.