I was wondering what they'd do now that PPI is over...
Discussion
"There is an estimated £20 billion in unclaimed, forgotten or lost pensions"
'Some of our customers have located over £30,000... Let us help ensure you don't miss out... Insert your NI number... sign both forms...'
- which are a Letter of Authority and HMRC Authorisation form leading to a pension review and then, well, I guess either they take a slice of whatever they find or send an IFA to chisel out a slice?
'Some of our customers have located over £30,000... Let us help ensure you don't miss out... Insert your NI number... sign both forms...'
- which are a Letter of Authority and HMRC Authorisation form leading to a pension review and then, well, I guess either they take a slice of whatever they find or send an IFA to chisel out a slice?
It's reasonably straightforward to check for missing pensions using the right website (avoid anyone charging a fee, use the government site)..the Pension Tracing Service. Mind you, it is not always successful.
Then, once you have started making investigations and an organisation does not wish to accept your claim, raise a complaint and then if that does not work you can use the Pensions Ombudsman service, all free.
There's no need to retain any form of organisation to do this all for you for a fee, although I can see circumstances where you might be persuaded to do so.
R.
Then, once you have started making investigations and an organisation does not wish to accept your claim, raise a complaint and then if that does not work you can use the Pensions Ombudsman service, all free.
There's no need to retain any form of organisation to do this all for you for a fee, although I can see circumstances where you might be persuaded to do so.
R.
anonymous said:
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Worth checking out how much the price comparison sites make from each policy they direct the customer to - it's a tax of several hundred quid!The business model is quite insidious because it gives the consumer the impression they are getting the best deal, whereas actually they are paying an extra layer of fees. Compare the Market made £230 mm of revenue last year... it comes from somewhere.
Look at some of the amounts of compensation for dieselgate here:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Comparison websites are solely about cost. Although they would disagree you only have to look at any such site to see where their focus really is.. However, what the customer wants is the right protection/deal/product for them. Inevitably many customers go for the lowest price and don't get the product that they actually are seeking, and they are unaware that this is the case. A good example is holiday bookings: go to one of the comparison websites and decide on the lowest price and what do you get....a good price maybe but a non refundable hotel booking, non refundable/non flexible airline ticket, etc, which may suit a few but certainly not all people. They arrive at the airport and may even have to pay for their luggage because the website did not make it clear that at the price they have agreed for the flight was hand luggage only.
You only have to ask how these websites make their own money to realise that it's from you the customer.
And all the insurance related comparison websites are funded by the insurers themselves.
And on my experience you can always do as good and invariably a better by DIY anyway.
Comparison website will give rise to the next PPI debacle in my view. I hope that the sites themselves get the public's blame directed where it should be.
R.
You only have to ask how these websites make their own money to realise that it's from you the customer.
And all the insurance related comparison websites are funded by the insurers themselves.
And on my experience you can always do as good and invariably a better by DIY anyway.
Comparison website will give rise to the next PPI debacle in my view. I hope that the sites themselves get the public's blame directed where it should be.
R.
anonymous said:
[redacted]
very much this ^^^ For me, on a like for like basis the comparison sites were among the cheapest quotes so really it's obvious why they're used.As an aside I have now heard claims for miss-sold investments... ie the bank suggests you buy xyz-ISA and it losses money you can now claim this back
irocfan said:
As an aside I have now heard claims for miss-sold investments... ie the bank suggests you buy xyz-ISA and it losses money you can now claim this back
I saw that too - but surely only if it was unsuitable for your needs? The watchword is that advisers are not responsible for fund performance... if they were I'd be a few hundred K richer.Gassing Station | Finance | Top of Page | What's New | My Stuff