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  • FIRST POST
    • etwallace
    • By etwallace 13th Apr 18, 9:29 AM
    • 17Posts
    • 0Thanks
    etwallace
    Occup Pension claim form intrusive
    • #1
    • 13th Apr 18, 9:29 AM
    Occup Pension claim form intrusive 13th Apr 18 at 9:29 AM
    Hello Folks,
    Am nearing state pension age and will be taking four small deferred occupational pensions from separate companies. I've just received a claim form from one of them (B) and am not at all happy about B's demand for detailed personal and private financial information about the other 3 pensions. I spoke to a scheme staff officer from B who said the information asked for was mandatory and needed in order to check my lifetime allowance. I said that's the business of HMRC and nothing to do with B, that providing financial details to B about my other pensions should be optional, that I would give B a signed letter saying I was well below the lifetime allowance for my other pensions (which is true). The officer from B said if I didn't give all the information required on the form about my other pensions I would not receive my pension from B.
    What are my rights here please?

    N
Page 1
    • Dox
    • By Dox 13th Apr 18, 9:38 AM
    • 856 Posts
    • 645 Thanks
    Dox
    • #2
    • 13th Apr 18, 9:38 AM
    • #2
    • 13th Apr 18, 9:38 AM
    If you don't provide the necessary information the scheme can't (not won't) pay your pension. Mandatory for them to get this sort of info.
    • robber2
    • By robber2 13th Apr 18, 9:41 AM
    • 353 Posts
    • 298 Thanks
    robber2
    • #3
    • 13th Apr 18, 9:41 AM
    • #3
    • 13th Apr 18, 9:41 AM
    You could try completing the form by entering N/A or zero in the relevant fields. Naughty I know but its hardly going to land you in prison or lose you your entitlement to the pension.

    If you get caught of course it may delay payments but then so will refusing to provide the information in the first place so you will be no worse off. :-)

    Personally I'd just tell then what they want to know and get on with life.

    Rob
    • mgdavid
    • By mgdavid 13th Apr 18, 10:00 AM
    • 5,647 Posts
    • 4,974 Thanks
    mgdavid
    • #4
    • 13th Apr 18, 10:00 AM
    • #4
    • 13th Apr 18, 10:00 AM
    .......
    What are my rights here please?
    Originally posted by etwallace
    You have the absolute right to forego this pension by withholding relevant and pertinent information from the provider!
    The questions that get the best answers are the questions that give most detail....
    • ex-pat scot
    • By ex-pat scot 13th Apr 18, 10:16 AM
    • 264 Posts
    • 310 Thanks
    ex-pat scot
    • #5
    • 13th Apr 18, 10:16 AM
    • #5
    • 13th Apr 18, 10:16 AM
    Two things.


    1. LTA. Individually you may be below LTA in each of your pensions but cumulatively you may be over. That changes the amount of tax-free cash you can take as PCLS, and on the tax withheld on withdrawal and paid over to HMRC.


    2. MPAA. You can take out simplistically up to 25% of your total value of pensions before crystallising them. Once crystallised, you are restricted to a much lower annual amount you can obtain tax relief upon, if you continue to contribute to a pension. Without sharing of your information, the individual providers do not know if your pension is crystallised and how to account to HMRC for tax relief on future contributions and tax to pay on withdrawal.


    There are significant privacy issues in play around all your financial details and especially on your retirement funds. These issues lie outside of your current providers, not with them.
    • Malthusian
    • By Malthusian 13th Apr 18, 12:22 PM
    • 4,483 Posts
    • 7,140 Thanks
    Malthusian
    • #6
    • 13th Apr 18, 12:22 PM
    • #6
    • 13th Apr 18, 12:22 PM
    Hello Folks,
    Am nearing state pension age and will be taking four small deferred occupational pensions from separate companies. I've just received a claim form from one of them (B) and am not at all happy about B's demand for detailed personal and private financial information about the other 3 pensions.
    Originally posted by etwallace
    If you haven't crystallised any pensions before 6 April 2006 then standard practice is to ask how much lifetime allowance was used up by your previous crystallisations (as a percentage). This is not detailed personal information. This is information that the scheme absolutely has to ask for.

    If for some reason they are asking you for more than they need, you have the right to make a formal complaint, and take it to the Ombudsman after eight weeks if they don't resolve it to your satisfaction.
    • dunstonh
    • By dunstonh 13th Apr 18, 12:42 PM
    • 93,978 Posts
    • 61,784 Thanks
    dunstonh
    • #7
    • 13th Apr 18, 12:42 PM
    • #7
    • 13th Apr 18, 12:42 PM
    I've just received a claim form from one of them (B) and am not at all happy about B's demand for detailed personal and private financial information about the other 3 pensions.
    When you say detailed, what exactly is the detail that is going too far?

    Different schemes do have different requirements. In 2006, the rules required schemes to get the detailed information. Over the years, those requirements were watered down to allow a scheme to operate a self declaration by the individual if they wanted to. Many have moved to that but some still require you to detail the pension by name and the LTA used.

    I said that's the business of HMRC and nothing to do with B, that providing financial details to B about my other pensions should be optional, that I would give B a signed letter saying I was well below the lifetime allowance for my other pensions (which is true).
    And where in the rules does it say all that? You telling them does not make it fact. It is at scheme discretion whether they allow self-declaration or not.

    What are my rights here please?
    Do as they say or dont get your pension. The info is not intrusive and is really quite insignificant in the scheme of things. Being difficult for the sake of being difficult isn't going to achieve anything.
    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.
    • Aegis
    • By Aegis 13th Apr 18, 3:12 PM
    • 4,951 Posts
    • 3,203 Thanks
    Aegis
    • #8
    • 13th Apr 18, 3:12 PM
    • #8
    • 13th Apr 18, 3:12 PM
    Just supply the information they're asking for and stop making some poor administrator's job much harder than it needs to be. They're only asking for information they need in order to legally pay your benefits.
    I am an Independent Financial Adviser
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
    • Dox
    • By Dox 13th Apr 18, 4:19 PM
    • 856 Posts
    • 645 Thanks
    Dox
    • #9
    • 13th Apr 18, 4:19 PM
    • #9
    • 13th Apr 18, 4:19 PM
    You could try completing the form by entering N/A or zero in the relevant fields. Naughty I know but its hardly going to land you in prison or lose you your entitlement to the pension.

    If you get caught of course it may delay payments but then so will refusing to provide the information in the first place so you will be no worse off. :-)

    Rob
    Originally posted by robber2
    Except they already know that won't be the case. Why all the fuss about nothing? Just give the info and get your pension.
    • Brynsam
    • By Brynsam 13th Apr 18, 5:47 PM
    • 1,439 Posts
    • 1,032 Thanks
    Brynsam
    What are my rights here please?
    Originally posted by etwallace
    Probably more useful to focus on the rights (not to say obligations) of the trustees. If you don't provide the information you don't get your pension.
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