Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • diddldonna1
    • By diddldonna1 23rd Jun 17, 7:28 PM
    • 12Posts
    • 4Thanks
    diddldonna1
    Profile Pensions letter
    • #1
    • 23rd Jun 17, 7:28 PM
    Profile Pensions letter 23rd Jun 17 at 7:28 PM
    My husband received a letter/form from profile pensions about claiming missing pensions, is this a genuine company. It has his details on it but he just needs to sign, add national insurance and phone number. He thinks he ticked a box someone about this but unsure, because of various scams we are juts a bit concerned. Any advice would be great.
Page 1
    • Silvertabby
    • By Silvertabby 23rd Jun 17, 7:49 PM
    • 2,866 Posts
    • 4,091 Thanks
    Silvertabby
    • #2
    • 23rd Jun 17, 7:49 PM
    • #2
    • 23rd Jun 17, 7:49 PM
    Even if it isn't a scam, they'll want a bite of any pension pot they locate - any may want him to transfer his benefits into other pension schemes that they 'recommend'.

    Does your husband not have records of any pension schemes he may have paid into?
    • mark88man
    • By mark88man 23rd Jun 17, 7:55 PM
    • 3,157 Posts
    • 6,595 Thanks
    mark88man
    • #3
    • 23rd Jun 17, 7:55 PM
    • #3
    • 23rd Jun 17, 7:55 PM
    More informed investors will be along soon, but I'm pretty sure you can do this yourself using the government web pages.

    Certainly dont sign and send back - until you are more certain
    Things happen for a reason. Often the reason is we are stupid & make bad decisions.
    Weight 2/15 125.7 Kg : 31/12/16 - 105.5Kg : 31/12/17 - 108.5kg : Targets - 100Kg by 6/18 then 200lb by 31/12/18
    1/18: CC:11.5K@0% - Car Loan:17K@2.8% - Mort:145K@2.9% - Savings:3k@3%
    Decrease in Total Debt 2016:13.4K 2017:8.3K
    • dunstonh
    • By dunstonh 23rd Jun 17, 7:58 PM
    • 93,034 Posts
    • 60,419 Thanks
    dunstonh
    • #4
    • 23rd Jun 17, 7:58 PM
    • #4
    • 23rd Jun 17, 7:58 PM
    The Govt run a free pension tracing service. No need to use a third party.

    https://www.gov.uk/find-pension-contact-details

    The problem with a name like "profile pensions" is that is so generic that it could be a real company or it could be a clone/scam company.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • diddldonna1
    • By diddldonna1 23rd Jun 17, 8:05 PM
    • 12 Posts
    • 4 Thanks
    diddldonna1
    • #5
    • 23rd Jun 17, 8:05 PM
    • #5
    • 23rd Jun 17, 8:05 PM
    He worked for a company years ago and know he had a pension there but we can't find anything to work on, even tried looking on the government tracking service. He doesn't know the name of pension service they used, it was 20 years ago.
    • dunstonh
    • By dunstonh 23rd Jun 17, 8:07 PM
    • 93,034 Posts
    • 60,419 Thanks
    dunstonh
    • #6
    • 23rd Jun 17, 8:07 PM
    • #6
    • 23rd Jun 17, 8:07 PM
    I have seen the website of the most likely company you are referring to and they are restricted FAs. So, no, you should not use them.

    You should use an IFA if you need advice. However, no FA or IFA can find a pension. They would help you use the pension tracing service.

    If the pension tracing service cant find it then not much will. Have you tried the company he worked for?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • diddldonna1
    • By diddldonna1 23rd Jun 17, 8:12 PM
    • 12 Posts
    • 4 Thanks
    diddldonna1
    • #7
    • 23rd Jun 17, 8:12 PM
    • #7
    • 23rd Jun 17, 8:12 PM
    Okay thank you for your advice, we will not use them as don't want to risk it.

    The company he worked for went insolvent in 1995 and he was made redundant.
    • diddldonna1
    • By diddldonna1 23rd Jun 17, 8:36 PM
    • 12 Posts
    • 4 Thanks
    diddldonna1
    • #8
    • 23rd Jun 17, 8:36 PM
    • #8
    • 23rd Jun 17, 8:36 PM
    I have managed to do bit more research and found the full trading name of the company and it showed the schemes it was a part of and have filled in the form on the government website. Thank you so much for your help.
    • thewinelake
    • By thewinelake 5th Feb 18, 7:32 AM
    • 41 Posts
    • 8 Thanks
    thewinelake
    • #9
    • 5th Feb 18, 7:32 AM
    • #9
    • 5th Feb 18, 7:32 AM
    The Govt run a free pension tracing service. No need to use a third party.

    https://www.gov.uk/find-pension-contact-details

    The problem with a name like "profile pensions" is that is so generic that it could be a real company or it could be a clone/scam company.
    Originally posted by dunstonh
    I've also had this letter and looked at the website. One thing I don't quite get is that the Govt form requires that you remember the name of the pension provider. These guys seem to think that's not vital, and they write to HMRC requesting the information based purely on your name/address/NI number. So presumably I could also write to HMRC with such a vague query?
    • Silvertabby
    • By Silvertabby 5th Feb 18, 8:53 AM
    • 2,866 Posts
    • 4,091 Thanks
    Silvertabby
    I've also had this letter and looked at the website. One thing I don't quite get is that the Govt form requires that you remember the name of the pension provider. These guys seem to think that's not vital, and they write to HMRC requesting the information based purely on your name/address/NI number. So presumably I could also write to HMRC with such a vague query?
    Originally posted by thewinelake
    If you have a GMP, then HMRC should be able to tell you which pension scheme holds the liability.
    • fussysoandso
    • By fussysoandso 14th Mar 18, 3:42 PM
    • 10 Posts
    • 7 Thanks
    fussysoandso
    ?
    GMP? All these acronyms and abbreviations. What's wrong with the occasional word or two?
    • dunstonh
    • By dunstonh 14th Mar 18, 3:59 PM
    • 93,034 Posts
    • 60,419 Thanks
    dunstonh
    GMP? All these acronyms and abbreviations. What's wrong with the occasional word or two?
    Originally posted by fussysoandso
    Look up how GMP works and you may well see why it needs more than an occasional word or two.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • xylophone
    • By xylophone 14th Mar 18, 4:13 PM
    • 25,585 Posts
    • 15,114 Thanks
    xylophone
    GMP? All these acronyms and abbreviations. What's wrong with the occasional word or two?
    Guaranteed Minimum Pension -

    https://www.barnett-waddingham.co.uk/comment-insight/blog/2014/08/18/what-is-a-gmp/

    Have you obtained a new state pension statement?

    https://www.gov.uk/check-state-pension
    • SeniorSam
    • By SeniorSam 15th Jun 18, 5:06 PM
    • 1,122 Posts
    • 557 Thanks
    SeniorSam
    My son had one of these letters from Profile Pensions. in Preston. It seems that they are sending them out like confetti, similar in one way to 'cold calling' , but trying to get a few people, who don't really understand, to sign documents that allows them to take a cut of the pot.

    Do be very careful with anything unsolicited asking for a signature.

    Would you give them your bank details and password as well? Sign up and get far less for something that is totally free by just asking the Government Pension service yourselves if you feel you have lost a pension.
    I'm a retired IFA who specialised for many years in Inheritance Tax, Wills and Trusts. I cannot offer advice now, so my comments are just meant to be helpful.
  • jamesd
    These guys seem to think that's not vital, and they write to HMRC requesting the information based purely on your name/address/NI number. So presumably I could also write to HMRC with such a vague query?
    Originally posted by thewinelake
    Yes, you could contact the HMRC contracted out helpline and ask them what their records show for the schemes that caused you to be contracted out of the earnings-related part of the state pension.

    Assuming the new pensions dashboard launches the scheme may also show up there. Expected in 2019, may be delayed.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

249Posts Today

3,193Users online

Martin's Twitter