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GMP equalisation and past transfers out

Lemon Slice
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GMP equalisation and past transfers out


Postby ayshfm1 » June 11th, 2024, 9:04 am

For info - as it might be of interest and indeed maybe worth checking your own history.

I had a tiny final salary pension which transferred to a SIPP in 2010, this was before the requirement for a financial advisor was needed to sign it off, so it was easy and I got a stonking transfer value given the minute amounts I contributed....

Anyway I recently got a letter from the pension trustees out the blue telling me about a court ruling.

I am due small windfall.

Maybe others are? If you've moved then the Trustee might not be able to contact you.

They are paying me 25% tax free and taxing the rest at 20%, which as it happens is fine, but it might not have been. I could have transferred the gross amount into another pension, but I decided the costs for such a small sum weren't worth it.

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