slow pension admin

katejo

https://forums.moneysavingexpert.com/discussion/comment/81965994#Comment_81965994

I am shocked at how long people are having to wait with limited or no information. The Capita situation is appalling. Completely different experience for me. I gave notice in my university job at the beginning of April and received documents from.SAUL on April 8th. I completed the necessary choices re. size of lump sum and pension payments. Today I got confirmation from SAUL that I will receive my lump sum in early May and my 1st pension payment later in the month. I had already provided the copy of my birth certificate earlier in the year. Throughout the past 2 years or so, I have received quick responses to many questions from a pension technician at SAUL. I intend to send her a personal thank you for her support.

northernstar007

thanks to everyone for there inputs on here i appreciate

after putting the pressure on the admin, and as to there word they did get back to me via email

"Please be assured that we are actively reviewing your case, and we will be in touch with an update again early next week"

seems to me things are now moving, not sure if they have sold my avc or now its being actioned

looking at the replies on here yes i agree it can take a while but i was quoted in dec that it wouldnt take no longer than 4-5 weeks max, that why i left it till end of jan to send my docs off to them

again thanks to everyone, i will keep you all updated if anyone wants to add there bit feel free

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81965429#Comment_81965429

https://forums.moneysavingexpert.com/discussion/comment/81965435#Comment_81965435

Just to be clear, there is no distinction between 'formal' complaint and any other, and it doesn't need to be in writing - the FCA is clear that a complaint (requiring action) is defined as:

any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service, claims management service or a redress determination, which:
(a) alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience […]

Edit: as below, this only applies to activities regulated by the FCA, so ignore!

northernstar007

am i now entitled to loss of interest due to i was wanting to put my cash in at 4.5% isa and fixed rate bonds from the start of the tax year which i am losing by the day

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81968913#Comment_81968913

Not sure you'll actually be legally or contractually entitled to interest as such, but if they're taking significantly longer than they intimated then I'd expect them to offer some sort of goodwill gesture, especially if their quoted timescales were in writing.

Marcon

https://forums.moneysavingexpert.com/discussion/comment/81968912#Comment_81968912

The administration of a trust based occupational scheme isn't regulated by the FCA, so their requirements don't apply here. Formal complaints in respect of such schemes must normally be in writing and schemes must normally have their own individualised Internal Dispute Resolution Procedure.

The Pensions Ombudsman's view is that complaints should always be in writing where possible (even if not actually required to be in writing), for the reasons outlined in their factsheet https://www.pensions-ombudsman.org.uk/sites/default/files/publication/files/Complaining%20to%20the%20parties%20at%20fault%20factsheet_1.pdf

Veloflyer

https://forums.moneysavingexpert.com/discussion/comment/81968913#Comment_81968913

In a genuinely fair-minded world where there seems to be a clear failure to deliver what is a very basic task, I would say you are more than justified to put a claim in for loss of such earnings. However, whether you are "entitled" to it is a wholly different matter. Such is the level of service within pension administration that any such expectation on your part may be considered as simply falling within the normal bounds of service delivery. Thus any claim made by you may be considered unreasonable and quite possibly excessive.

Marcon

In a genuinely fair-minded world where there seems to be a clear failure to deliver what is a very basic task, I would say you are more than justified to put a claim in for loss of such earnings. 

I don't think you'll find anyone who works in pensions administration agreeing that putting a DB pension into payment is a 'very basic task'. Fundamental yes; but the complexities, especially where early retirement and AVCs are both present, are anything but basic.

That is emphatically not a defence of avoidable delays and poor communication, but unless you've ever worked in the parallel universe of pensions, it is quite hard to grasp just many hoops and hurdles have to be negotiated to accomplish what members fondly believe to be a simple, straightforward task.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81969241#Comment_81969241

More generally, and purely from a practical perspective, would it be best to assume that a "formal" complaint can only be assumed to have been made if it has been acknowledged (in a recordable form) as such?

Not much point going to a regulator or ombudsman saying "I made a complaint" if the complainee says they never received it?

Marcon

https://forums.moneysavingexpert.com/discussion/comment/81969457#Comment_81969457

Both the Pensions Ombudsman and the Financial Services Ombudsman expect complainants to have exhausted any scheme/provider complaints mechanism open to them before approaching either the PO/FOS. It would be unusual for the recipients of a formal complaint not to acknowledge it, but naive to suggest a total lack of response never happens!

In such cases the complainant would be expected to chase up a reply at least once, and have some way of demonstrating they've tried to do so. A screenshot of an email (where that is an accepted method of complaining and it's been sent to the correct recipient) or using 'signed for' postage and taking a screenshot of the delivery confirmation, would both do the trick.