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Equitable Life Pension
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Green693
Posts: 1 Newbie
a relative lost a pension pot in the 90s - any recent developments or avenues to explore to help them get some back ?
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How did they lose it?
Mine was still there 20 years later.0 -
The compensaton scheme was closed at the end of 2015. With redress paid in 2016.0
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are you talking about pension review compensation?Hoenir said:The compensaton scheme was closed at the end of 2015. With redress paid in 2016.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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There was an Equitable Life Compensation Scheme.0
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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 cigar0 -
Nobody lost a pension pot. Some took a haircut on the value.Green693 said:a relative lost a pension pot in the 90s - any recent developments or avenues to explore to help them get some back ?
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.0 -
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.Green693 said:a relative lost a pension pot in the 90s - any recent developments or avenues to explore to help them get some back ?Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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