Deferred Pension

[lookwest]

I hold a deferred pension from the previous company that I worked it until 1999. I contributed to that pension for 16.75 years. Since then I have had no information on the status of that pension.

I will not receive any information on this pension when "you will be contacted by us 3 months prior to your normal retirement date with the available options that are open to you" according to the Pension management company to use their own words. That will be 16 years from now. I will probably be dead by then and hopefully some of my next-of-kin will still be alive then to get this information. Surely this is unacceptable. I have been told that should I wish to transfer the pension to my current one with my present employer then they will disclose the transfer value but only then.

Can you tell me what rights I have in this respect. I have been trawling to see if there is information relevant to this situation available on the Pension Board website but I have been unable to find it. Any suggestions?



Regards,

 

[Western_Sean]

I'm not 100% certain about this but I think the trustees have an obligation to contact scheme members with details on scheme performance and so on every couple of years. They are probably required to maintain your details on file for this purpose.

In any case the trustees are there to represent your interests, so they are the people to contact.

 

[peno]

The trustees are under no obligation to give annual reviews to deferred memebrs. They must provide annual updates to active members and pensioners only.

You can request a transfer value and the trustees must provide this within 2 months. You are under no obligation to transfer your benefits when you are provided with these figures. It is merely a quotation with which you can base your decision to trasfer or not.

My advice is to contact the administrators and get a transfer value. Then get regular updates every 2 years or so.