Help with an old pension?

Question

I have had a pension with Royal Doultons frozen for the past 11 years and i turn 50 this year and want to know what my options are, the problem being i cant get any one at RD to help, thay either are not in or never anwser my calls or dont ring back, so any one know what(if any)my options are.

Answer 1

I would suggest you see an independent financial advisor to assist you. Pensions are now portable, in other words they can be transferred from job to job. You really need to get that frozen pension out of RD and into something that will work for you - your current works pension, for example if you have one, or to an insurance company into which you can pay additional contributions. As Revenue rules stand at present, you cannot draw on the pension at 50, unless you are in a select number of jobs - such as the Police - where retirement at about 50- is permissible. To be fair to RD, they may not know much about it as company pensions are usually managed by outside bodies like insurance companies. Have you tried asking who the pension trustees are? They should be the people you approach at this stage. The suggestion that you sue is, quite frankly, plain daft at this stage.

Answer 2

i can only recommend sewing them (i apologise for spelling) it seems wicked but necessary.

Good Luck mate.