Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to Anonymous,bruncher,niord,gvonge,Shelford, for Donating to support the site

GMP equalisation and past transfers out

ayshfm1
Lemon Slice
Posts: 312
Joined: November 5th, 2016, 9:43 am
Has thanked: 1 time
Been thanked: 168 times

GMP equalisation and past transfers out

#668385

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.

https://www.doyleclayton.co.uk/resources/news/very-late-equaliser-pension-transfers-and-lloyds-bank-case/

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.

Return to “Pensions - Practical Problems”

Who is online

Users browsing this forum: No registered users and 1 guest