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[url= http://www.guardian.co.uk/environment/2013/apr/19/carbon-bubble-financial-crash-crisis#start-of-comments ]over-valuation of mining and oil. [/url]
If as i believe minerals/oil etc make a fair chunk of most pension fund investment portfolios and if we are to believe the company valuations don't reflect the true value of the businesses because the assests are actually worthless...
Oh what joy....!!!!!
My wife's employers have just admitted that through some oversight they collected a pension contribution from her salary for 25 years but failed to pass either that or their contribution on to the pension company who now say they're reluctant to allow the situation to be rectified and suggest she's just given her money back.
We're delighted, as you can imagine.
That's a tough one was, can anything be done due to their negligence?
25 years!!!!!!
don;t they quote interest at 6% for bank claims? any chance?
Oh, with her 25 years of contributions, the companies equivalent contribution and, say, 5% interest a year I'd be tempted to take the cash....
I'd be getting the company to cover the tax position as well.
god knows. It's a bloody mess, tbh. Union proven to be worse than useless, everyone we've spoken to has either been ineffective or reluctant to get involved. I expect it'll get sorted but it's taken 3 months to get this far.
You'd be looking for compensation of cumulative growth plus dividend re-investments. Would be worth way more than just getting the cash back e.g. FTSE over last 20 years: http://finance.yahoo.com/q/bc?s=^FTSE&t=my&l=off&z=l&q=l&c=
tell a lie, it's 20 years.
it's a final salary scheme, to make matters even more complicated...
In which case easy to work out the lost value of the benefit, which will be way more than the contributions. If it was me, I'd hire a solicitor and start legal action - a final salary pension is not something to give up without a fight.
We're still fighting to get the info about whpo took what and when, as you can imagine we don't have payslips for all that time...
Best one was 'We've changed payroll systems and the old data was on a disk that could only be read by one PC. But then someone threw that PC away during an office move a few years back so we've not had access since. I did find a bit of microfiche in the bottom of my desk drawer the other day and you're in luck as it has a couple of your payslips on it!' Yay for us and out luck.