DB transfer value
Discussion
I have a paid up DB pension & I am transferring it out to a SIPP, I asked for a TV & it was ok, so I got IFA to go ahead. It now turns out my old employer is saying that I never asked for a guaranteed TV & the TV they are now quoting is £50K less.
I was in IT so knew little about pensions, how was I to know I was to ask for a GTV?
Is there anything I can do?
I was in IT so knew little about pensions, how was I to know I was to ask for a GTV?
Is there anything I can do?
Nope, without shedding to much light this was a fully funded final salary staff pension in one of the big financial firms. They
Are saying that the to I got in February was high due to guilt bonds being good at that time, even the Ifa I have doing the transfer is a bit confused as to why they gave me a tv but not a gtv.
I have complained and it is going to the trustees to see what they think, but there current stance is they do not give gtv unless specifically asked for and they do state in the small print that the to is just an illustration not a gtv.
This stinks to me, why bother quoting if it is not guaranteed
Are saying that the to I got in February was high due to guilt bonds being good at that time, even the Ifa I have doing the transfer is a bit confused as to why they gave me a tv but not a gtv.
I have complained and it is going to the trustees to see what they think, but there current stance is they do not give gtv unless specifically asked for and they do state in the small print that the to is just an illustration not a gtv.
This stinks to me, why bother quoting if it is not guaranteed
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