My Company have just decided to deal us a really low blow because they cocked up on our Pension in 2002 right thru until today, and now they want us to pay up for their mistake.

Anyone on here a specialist in this area or can recommend a website that might help us?

(we only have until this Friday (13th) to do anything about it before they start taking the money from our wages)

 

http://www.fsa.gov.uk/

Generic information available at the above link.

Best of luck

 

Ta Andy

 

Final salary scheme??

Up to this point you have been non contributory?

If it is Final Salary rather than Money Purchase count yourself lucky anyway.

Alot of companies have been forced to have employees contributing more into their pensions including my company which is one of the largest investment and pension companies in the world.

Good luck but if you want a comfortable retirement these days you have to pay for it

 

grunE - Yes it is a final salary scheme and if I hear one more person say "you're lucky to be in that type of scheme" I will chop their arms off! lol

We have always contributed, in fact our contributions went up last year, however, because of an error on their part, they now want us to pay Ł315 out of our August pay packet, or Ł40 a month starting in Augusts pay packet.

It has caused uproar here cos our scheme is only beneficial to us if we intend to stay with the Company for a long time, and if we are near retirement age.

Most of us of which dont fit into either category.

Just spoke to OPRA and they say altho the Company have not acted illegally, they may possibly have acted unethically because it was their mistake to start with.
Going to contact the Ombusman now and see if they can shed any light.

 

go give your HR manager a present