Equitable Life Pension

Green693
Green693 Posts: 1 Newbie
First Anniversary
in Pensions, annuities & retirement planning
a relative lost a pension pot in the 90s - any recent developments or avenues to explore to help them get some back ? 

Comments

  • DRS1
    DRS1 Posts: 914 Forumite
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    How did they lose it?

    Mine was still there 20 years later.
  • Hoenir
    Hoenir Posts: 6,559 Forumite
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    The compensaton scheme was closed at the end of 2015. With redress paid in 2016. 
  • Brie
    Brie Posts: 14,065 Ambassador
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    Hoenir said:
    The compensaton scheme was closed at the end of 2015. With redress paid in 2016. 
    are you talking about pension review compensation?  
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  • DRS1
    DRS1 Posts: 914 Forumite
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    There was an Equitable Life Compensation Scheme.
  • ali_bear
    ali_bear Posts: 218 Forumite
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    A quick Google reveals a lot of reading material. Have you tried that? For example 

    https://forums.moneysavingexpert.com/discussion/6547793/lost-pension

    A little FIRE lights the cigar
  • Hoenir
    Hoenir Posts: 6,559 Forumite
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    Brie said:
    Hoenir said:
    The compensaton scheme was closed at the end of 2015. With redress paid in 2016. 
    are you talking about pension review compensation?  
    That's what I received eventually from the debacle.  
  • dunstonh
    dunstonh Posts: 119,114 Forumite
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    Green693 said:
    a relative lost a pension pot in the 90s - any recent developments or avenues to explore to help them get some back ? 
    Nobody lost a pension pot.    Some took a haircut on the value.
    Unit linked funds were unaffected by the EL issue but WP funds were reduced but some compensation was payable.


    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Marcon
    Marcon Posts: 13,668 Forumite
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    Green693 said:
    a relative lost a pension pot in the 90s - any recent developments or avenues to explore to help them get some back ? 
    All done and dusted. Suggests they either didn't actually lose money (other than as a consequence of market fluctuations), or they didn't respond to correspondence relating to the compensation scheme by the deadline of 31 December 2015. Did EL have their current address at the time? If not, then that could explain why, but I'm afraid it doesn't alter the fact they've missed the boat.
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
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