Pension contact by ITM ltd. (who are they)
Discussion
Hi.
Just recieved out of the blue a letter from a company called ITM ltd, who claim they have information about my pension (singular), now I have a number of pensions, but I thought they were all known to me, so nothing missing.
Anyone have any knowledge of these pension tracing peoples, is this a cold call postal letter that I can ignore, (i might just call and see what the hell is up with them) it seems odd timing given i've just retired....
Anything you good folks can guide me with, would be appreciated.
Thanks
Just recieved out of the blue a letter from a company called ITM ltd, who claim they have information about my pension (singular), now I have a number of pensions, but I thought they were all known to me, so nothing missing.
Anyone have any knowledge of these pension tracing peoples, is this a cold call postal letter that I can ignore, (i might just call and see what the hell is up with them) it seems odd timing given i've just retired....
Anything you good folks can guide me with, would be appreciated.
Thanks
I've heard of them, they are a legitimate company. One of the services they provide is helping trustees of pension schemes to trace missing members.
I'd give them a call and enquire about the pension they are referring to. It can't do any harm and you may be pleasantly surprised if you do have an old long forgotten pension somewhere.
I'd give them a call and enquire about the pension they are referring to. It can't do any harm and you may be pleasantly surprised if you do have an old long forgotten pension somewhere.
PJ RS said:
I've heard of them, they are a legitimate company. One of the services they provide is helping trustees of pension schemes to trace missing members.
I'd give them a call and enquire about the pension they are referring to. It can't do any harm and you may be pleasantly surprised if you do have an old long forgotten pension somewhere.
Thank you, bit concerning for me given my present pension situation, but I’ll ring and see what’s upI'd give them a call and enquire about the pension they are referring to. It can't do any harm and you may be pleasantly surprised if you do have an old long forgotten pension somewhere.
I had similar experiance at the start of Dec last year...
https://www.pistonheads.com/gassing/topic.asp?h=0&...
https://www.pistonheads.com/gassing/topic.asp?h=0&...
PJ RS said:
I've heard of them, they are a legitimate company. One of the services they provide is helping trustees of pension schemes to trace missing members.
I'd give them a call and enquire about the pension they are referring to. It can't do any harm and you may be pleasantly surprised if you do have an old long forgotten pension somewhere.
That service is unusual...an organisation offering a service to pension plan sponsors/trustees to find members of their pension plan that they cannot trace.I'd give them a call and enquire about the pension they are referring to. It can't do any harm and you may be pleasantly surprised if you do have an old long forgotten pension somewhere.
Most issues relating to "tracing" are the other way round: pension plan members trying to trace the organisation responsible for a pension that they believe they are entitled to, and for this the best starting point is https://www.gov.uk/find-pension-contact-details. This is a government sponsored facility and it's free. Beware many similar sites offereing a service which is unlikely to be free.
R.
It’s not at all unusual. The pension scheme trustees will be tracing members so they have a better understanding of their liabilities. They know that, over time, members move house and so on and forget to update the trustees of their whereabouts. Or some members might have died and none of the family knew about an old company pension.
Often, this data validation can be a precursor to a buy-out (where the pension scheme transfers its liabilities to an insurance company). Like with any insurance, the insurer will want to know as accurately as possible what liability and risk it is taking on. So a data validation exercise is a good way of ensuring that
ITM are legitimate. They won’t be trying to scam you and you may be pleasantly surprised if it turns out you do have an additional pension you had forgotten about.
https://www.itm.co.uk/
Often, this data validation can be a precursor to a buy-out (where the pension scheme transfers its liabilities to an insurance company). Like with any insurance, the insurer will want to know as accurately as possible what liability and risk it is taking on. So a data validation exercise is a good way of ensuring that
ITM are legitimate. They won’t be trying to scam you and you may be pleasantly surprised if it turns out you do have an additional pension you had forgotten about.
https://www.itm.co.uk/
Just to wrap this all up.
ITM were acting legitimately, they had been asked by a pension company to trace if I still resided at the same address.
This pension company, are the ones who I had engaged with in 2018 in written form, for a number of months, and who are currently paying me a pension.
Yet, they needed to know where I lived; where they thought they were writing to, heaven only knows.
So, all done and dusted, mystery cleared up, and chuckles at the end
ITM were acting legitimately, they had been asked by a pension company to trace if I still resided at the same address.
This pension company, are the ones who I had engaged with in 2018 in written form, for a number of months, and who are currently paying me a pension.
Yet, they needed to know where I lived; where they thought they were writing to, heaven only knows.
So, all done and dusted, mystery cleared up, and chuckles at the end
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