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Pension Management Company Not paying out

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  • Pension Management Company Not paying out

    Hi,

    I was just wondering if anyone could come up with things to try as we are loosing the plot.

    My father passed away suddenly the end of last year.

    My father had no assets as such, his bank account was in the red due to his savings being swallowed up by care fees. He lived in a rented complex so had no property.

    The only thing he had was a workplace pension and that ceased when he passed as our mother had already passed and so there were no death benefits. The only thing is they contributed to his funeral, b ut that was only about a third of the cost, my brother and myself had to pay the rest. He had no life cover.

    The management company for the pension wrote and said that in addition to my dads main pension, he had an AVC which would go to beneficiaries if agreed by the trustees.

    The problem is, the company dealing with the pension is a nightmare. We cannot finalise our fathers affairs until this is sorted.

    They eventually paid me my share 5 weeks ago but havent paid out my brothers share because they say he needs to complete a bank details authority. I had to continually hound them.

    He has been chasing them almost daily for the past 5 weeks and NOTHING, no response whatsoever.

    I have written letters, made official complaints, even complained to the trustees by way of IDRP.

    You cant speak to the admin dealing with it, they wont put you through to management, you can request a call back but they dont phone, they are not fit for purpose.

    Its now got to the point when the only correspondence we can send will be full of inappropriate words because we are just lost for words.

    I have been in contact with The Pension Ombudsman and I can now log a formal complaint with them but that can take weeks. I have also complained to the CEO of the company and he never bothered to respond.

    I did get a letter from the Trustees in reply to my complaint 5 weeks ago when I received my share of the AVC and they said that they authorised the payout back in April. I was also told by the trustees that the company would be in contact with my brother re payout of his share and obviously they are not playing ball.

    Any ideas that might actually jolt them into doing their job? Is court action an option?
    Tags: None

  • #2
    Originally posted by scs62 View Post
    They eventually paid me my share 5 weeks ago but havent paid out my brothers share because they say he needs to complete a bank details authority. I had to continually hound them.
    Has your brother now provided the bank details authority form they required? How long ago did he send it to them?

    All opinions expressed are based on my personal experience. I am not a lawyer and do not hold any legal qualifications.

    Comment


    • #3
      No he hasn't, that's the point. They keep saying they cant pay-out without it but they wont send one out. My brother asks them every time to email him a copy of it but he is just told that they have sent the request through to the admin team. The admin team do nothing.

      Comment

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