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    • WatlingA5
    • By WatlingA5 6th Dec 17, 3:29 PM
    • 142Posts
    • 55Thanks
    When do you have too much paperwork?
    • #1
    • 6th Dec 17, 3:29 PM
    When do you have too much paperwork? 6th Dec 17 at 3:29 PM
    Looking at some of the topics in this section, this may sound a bit flippant, but it is not intended that way.

    We have five big boxes of files from several decades, much of it to do with pensions and suchlike. The stuff about the background to mergers, etc, is easily discarded but annual statements are another matter. My paperwork includes P60s from the 60s - apt but hardly relevant today. To be honest, I know the old P60s are only any use for getting gasps of disbelief from the grandchildren

    We're now drawing all our pensions so we're not sure we need to keep ANY of it... Just how long should you hold on to annual statements from pensions, life assurances and banks?

    Our heads say chuck it all out but a built-in fear of sod's law says hold on to everything with a name on it.

    Other opinions would be very welcome

    Note to admins - If you think another section would be more appropriate for this post, please feel free to move it. Thank you
    Last edited by WatlingA5; 06-12-2017 at 3:33 PM.
Page 1
    • lika_86
    • By lika_86 6th Dec 17, 3:37 PM
    • 1,263 Posts
    • 4,598 Thanks
    • #2
    • 6th Dec 17, 3:37 PM
    • #2
    • 6th Dec 17, 3:37 PM
    If you're concerned then why not 'employ' one of your grandchildren to spend some time over Christmas scanning them in and putting them on a memory stick?

    I'd probably try and keep the last annual/monthly statement from each and replace as new ones come in. If you keep them all in one specific folder then they're easily found for others if something happened to you and someone needs to collect the estate in.
    • bap98189
    • By bap98189 6th Dec 17, 3:43 PM
    • 2,800 Posts
    • 4,804 Thanks
    • #3
    • 6th Dec 17, 3:43 PM
    • #3
    • 6th Dec 17, 3:43 PM
    I keep the most recent annual statement from my pensions, but that is all. There seems little point keeping anything older.

    I don't keep any paper copies of bank statements, bills or credit cards. They are all available online should I need to access them, but I almost never have any need to do so.
    • gettingtheresometime
    • By gettingtheresometime 6th Dec 17, 3:45 PM
    • 3,612 Posts
    • 8,993 Thanks
    • #4
    • 6th Dec 17, 3:45 PM
    • #4
    • 6th Dec 17, 3:45 PM
    Our paperwork gets scanned & stored electronically with the paperwork shredded
    Lloyds OD / Natwest OD / PO CC / Wescott / Argos Card cleared thanks to the 1 debt v 100 day challenge

    Next on the list - JD Williams
    • -taff
    • By -taff 6th Dec 17, 6:51 PM
    • 7,407 Posts
    • 5,486 Thanks
    • #5
    • 6th Dec 17, 6:51 PM
    • #5
    • 6th Dec 17, 6:51 PM
    Chuck anything from more than 7 years ago.
    Unless you can make a PPI complaint using it.
    • 74jax
    • By 74jax 6th Dec 17, 7:18 PM
    • 4,681 Posts
    • 6,376 Thanks
    • #6
    • 6th Dec 17, 7:18 PM
    • #6
    • 6th Dec 17, 7:18 PM
    I'm terrible. Don't keep anything longer than a year. And I do as much online as I can so I don't get paperwork.
    Forty and fabulous, well that's what my cards say....
    • meer53
    • By meer53 6th Dec 17, 7:45 PM
    • 9,157 Posts
    • 13,292 Thanks
    • #7
    • 6th Dec 17, 7:45 PM
    • #7
    • 6th Dec 17, 7:45 PM
    Bin it. Keep the most recent annual statements but bin the rest. What possible reason could you need a P60 from 50 years ago for ? The mind boggles !
    • lincroft1710
    • By lincroft1710 6th Dec 17, 7:49 PM
    • 10,675 Posts
    • 8,914 Thanks
    • #8
    • 6th Dec 17, 7:49 PM
    • #8
    • 6th Dec 17, 7:49 PM
    Don't bin any of it straight away!!

    Shred any papers you wish to dispose of, then bin.
    • badmemory
    • By badmemory 6th Dec 17, 10:29 PM
    • 1,628 Posts
    • 2,168 Thanks
    • #9
    • 6th Dec 17, 10:29 PM
    • #9
    • 6th Dec 17, 10:29 PM
    Don't destroy the P60s until you know that the DWP/HMRC have complete records - you can use them to prove entitlement to pension if their records are incorrect.
    • Fireflyaway
    • By Fireflyaway 6th Dec 17, 10:36 PM
    • 1,745 Posts
    • 1,892 Thanks
    I'm guilty of not keeping enough.
    So long as you have contact information for each of your investments and the most recent statements, I'd shred the rest. Maybe keep the oldest p60 for memories but other than that, I'm not sure why you would need anything else.
    • jamesperrett
    • By jamesperrett 7th Dec 17, 9:57 PM
    • 798 Posts
    • 433 Thanks
    Unless you can make a PPI complaint using it.
    Originally posted by -taff
    I'm glad I kept that loan application from 1990 now - the bank had no record of it but my paperwork clearly showed the PPI. That experience now means that I'm loathed to throw out any paperwork of any age.
    • Primrose
    • By Primrose 8th Dec 17, 4:03 PM
    • 8,031 Posts
    • 28,099 Thanks
    Keep the last year of everything in paper form. I never trust the banks, government or pension providers not to be to be hacked and lose all my records Tax info should be kept for seven years. Get a shredder and make sure none of your personal information can be identified.
    • Kynthia
    • By Kynthia 9th Dec 17, 8:25 PM
    • 5,133 Posts
    • 7,132 Thanks
    To anyone that isn't claiming their pensions Yet, keep all your P60s and important paperwork from each pension scheme (terms, a statement and any leaving paperwork until well into retirement). Not every employer and the hmrc will have everyone's accurate records from 40 years previously and it's in your interest to have it otherwise you could lose out.
    Don't listen to me, I'm no expert!
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