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
    • PipFin
    • By PipFin 6th Mar 18, 9:53 PM
    • 9Posts
    • 0Thanks
    PipFin
    Pension investigators
    • #1
    • 6th Mar 18, 9:53 PM
    Pension investigators 6th Mar 18 at 9:53 PM
    Trying to do some research on behalf of my friend if anyone can help please.
    She has a company pension to which she contributed a substantial amount of money over her working years. At one point the pension rep said her pot had lost a lot of money. At the time she didn't investigate but now she would like to with help from one of these no win no fee arrangements. Can anyone tell me of any experiences in this regard or recommend such an investigator?
    Thank you.
Page 1
    • Linton
    • By Linton 6th Mar 18, 10:06 PM
    • 9,387 Posts
    • 9,519 Thanks
    Linton
    • #2
    • 6th Mar 18, 10:06 PM
    • #2
    • 6th Mar 18, 10:06 PM
    I cant see the need for any investigation. What is the "win" or "no win"? Why cant she talk to the pension administrator at the company? Is she still working there? Does the company still exist? I think there is a lot more background information needed before people can make any suggestions.
    • Brynsam
    • By Brynsam 6th Mar 18, 10:17 PM
    • 956 Posts
    • 630 Thanks
    Brynsam
    • #3
    • 6th Mar 18, 10:17 PM
    • #3
    • 6th Mar 18, 10:17 PM
    This sounds a bit confused and might be better handled by means of a telephone call rather than lots of piecemeal postings. Free, impartial help from https://www.pensionsadvisoryservice.org.uk (and no, they don't sell anything).
    • dunstonh
    • By dunstonh 6th Mar 18, 11:28 PM
    • 92,652 Posts
    • 59,975 Thanks
    dunstonh
    • #4
    • 6th Mar 18, 11:28 PM
    • #4
    • 6th Mar 18, 11:28 PM
    At one point the pension rep said her pot had lost a lot of money.
    And is there anything wrong with the funds doing that?

    For example, a stockmarket crash is 25%. So, if you are 100% equity invested, you would expect at a loss of that amount periodically. During the credit crunch, 100% equity could have seen your pension fall upto 50%. However, the 7 years that followed were superb growth years. You have to average the ups and downs. Not just look at the downs in isolation.

    Plus, negative periods are a great time to be adding to a pension.

    Or do you mean she has put her money into some scam or some overseas unregulated scheme rather than a mainstream UK pension and lost money that way?

    At the time she didn't investigate but now she would like to with help from one of these no win no fee arrangements. Can anyone tell me of any experiences in this regard or recommend such an investigator?
    A loss is not grounds for complaint. If it was, then it would be impossible to ever invest money. There are very few pension complaint companies and indeed, some of them are scam like in themselves. They give fake reasons, take up front fees (often not immediate but a month or two later they come back saying you were missold but you need to pay 495 or whatever to proceed). Some use it to harvest data about you and then tell you the pension is rubbish and it should be transferred and take a fee for doing so. The complaint angle was a sprat to catch mackerel.

    Tell us who the pension is with and how it is invested. That will give us an idea of whether she has been scammed or is just confused.
    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.
    • PipFin
    • By PipFin 7th Mar 18, 1:51 PM
    • 9 Posts
    • 0 Thanks
    PipFin
    • #5
    • 7th Mar 18, 1:51 PM
    • #5
    • 7th Mar 18, 1:51 PM
    I cant see the need for any investigation. What is the "win" or "no win"? Why cant she talk to the pension administrator at the company? Is she still working there? Does the company still exist? I think there is a lot more background information needed before people can make any suggestions.
    Originally posted by Linton
    Thanks for your reply, I agree, a lot more info is needed and I'm going to ask her how much help she wants to sort it all out, if there is anything to sort out.
    • PipFin
    • By PipFin 7th Mar 18, 1:52 PM
    • 9 Posts
    • 0 Thanks
    PipFin
    • #6
    • 7th Mar 18, 1:52 PM
    • #6
    • 7th Mar 18, 1:52 PM
    And is there anything wrong with the funds doing that?

    For example, a stockmarket crash is 25%. So, if you are 100% equity invested, you would expect at a loss of that amount periodically. During the credit crunch, 100% equity could have seen your pension fall upto 50%. However, the 7 years that followed were superb growth years. You have to average the ups and downs. Not just look at the downs in isolation.

    Plus, negative periods are a great time to be adding to a pension.

    Or do you mean she has put her money into some scam or some overseas unregulated scheme rather than a mainstream UK pension and lost money that way?



    A loss is not grounds for complaint. If it was, then it would be impossible to ever invest money. There are very few pension complaint companies and indeed, some of them are scam like in themselves. They give fake reasons, take up front fees (often not immediate but a month or two later they come back saying you were missold but you need to pay 495 or whatever to proceed). Some use it to harvest data about you and then tell you the pension is rubbish and it should be transferred and take a fee for doing so. The complaint angle was a sprat to catch mackerel.

    Tell us who the pension is with and how it is invested. That will give us an idea of whether she has been scammed or is just confused.
    Originally posted by dunstonh
    Thank you, good advice. I will try and find out more info to see if I can help her further.
    • PipFin
    • By PipFin 7th Mar 18, 1:55 PM
    • 9 Posts
    • 0 Thanks
    PipFin
    • #7
    • 7th Mar 18, 1:55 PM
    • #7
    • 7th Mar 18, 1:55 PM
    [QUOTE=Brynsam;73985642]This sounds a bit confused and might be better handled by means of a telephone call rather than lots of piecemeal postings. Free, impartial help from

    Thanks, yes I hadn't thought of the pensions advisory service, I will pass their details to her.
    • PipFin
    • By PipFin 7th Mar 18, 1:57 PM
    • 9 Posts
    • 0 Thanks
    PipFin
    • #8
    • 7th Mar 18, 1:57 PM
    • #8
    • 7th Mar 18, 1:57 PM
    And is there anything wrong with the funds doing that?

    For example, a stockmarket crash is 25%. So, if you are 100% equity invested, you would expect at a loss of that amount periodically. During the credit crunch, 100% equity could have seen your pension fall upto 50%. However, the 7 years that followed were superb growth years. You have to average the ups and downs. Not just look at the downs in isolation.

    Plus, negative periods are a great time to be adding to a pension.

    Or do you mean she has put her money into some scam or some overseas unregulated scheme rather than a mainstream UK pension and lost money that way?



    A loss is not grounds for complaint. If it was, then it would be impossible to ever invest money. There are very few pension complaint companies and indeed, some of them are scam like in themselves. They give fake reasons, take up front fees (often not immediate but a month or two later they come back saying you were missold but you need to pay 495 or whatever to proceed). Some use it to harvest data about you and then tell you the pension is rubbish and it should be transferred and take a fee for doing so. The complaint angle was a sprat to catch mackerel.

    Tell us who the pension is with and how it is invested. That will give us an idea of whether she has been scammed or is just confused.
    Originally posted by dunstonh
    Yes, am just thinking about what you have said and now see I need further info from her - which she may not want to give me I expect, so I will pass on the details of the pension advisory service and see what her response is. Thank you.
    • atush
    • By atush 7th Mar 18, 2:05 PM
    • 16,709 Posts
    • 10,412 Thanks
    atush
    • #9
    • 7th Mar 18, 2:05 PM
    • #9
    • 7th Mar 18, 2:05 PM
    Or she could register and post here?
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

55Posts Today

3,034Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin