Miss sold contract out?

missile

EdInvestor wrote: »

Isn't your mother better off with the company pension plus the lower additional state pension than she would be if she received the larger additional pension alone?

My MiL is only £13.77 per week better off than she would be if FiL had made no contributions to the company pension scheme.

EdInvestor

missile wrote: »

My MiL is only £13.77 per week better off than she would be if FiL had made no contributions to the company pension scheme.

Bear in mind that she's only getting 50% of his pension.She might (depending on her age and other factors) have got more than 50% of his SERPS - the 50% cap is fairly recent..But his final salary pension would have been higher than his SERPS, one assumes.

On that basis it's possible that she might have been better off, but it's unlikely that they both would have been better off.

You can't claim for misselling unless you make an actual loss.

dunstonh

Had your FIL not died, he would have been better off. You also must not forget the tax free cash he was paid. You mother is slightly worse off if you exclude the benefits your FIL had.

missile

I am sure she is not the only one to get a poor return from a pension investment. Your comments seem a little harsh, he did not plan to die.

You also must not forget the tax free cash he was paid

What tax free cash would that be?

Bear in mind that she's only getting 50% of his pension.

DOH - I told you that!