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    • Couch_potato_46
    • By Couch_potato_46 10th Mar 18, 10:41 AM
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    Couch_potato_46
    Pension statement query
    • #1
    • 10th Mar 18, 10:41 AM
    Pension statement query 10th Mar 18 at 10:41 AM
    Girlfriend has 2 CIS pensions from late 1980s to which she stopped contributions years ago. Every yearly statement shows a guaranteed cash sum/ protected payments cash sum and a total guaranteed minimum fund that never changes. Further on it shows the transfer value that increases yearly and is now approximately double the minimum fund total, is this transfer value the same as the pot value? Confused
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    • Linton
    • By Linton 10th Mar 18, 3:55 PM
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    Linton
    • #2
    • 10th Mar 18, 3:55 PM
    • #2
    • 10th Mar 18, 3:55 PM
    The pot value could well be much less than needed to meet the guarantees and so would be totally irrelevant since the pension company has to pay the guarantees anyway. The transfer value is effectively what CIS would be prepared to pay to be released from the guarantees.

    In the 1980s pension companies made some very foolish commitments based on previous years economic conditions. The conditions changed and so they were left with with large losses.
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