Posted on: 5th March 2020
In most cases,disputes are a long and complicated process and are something you will want to avoid if you possibly can. This week, we will provide you with words of wisdom that will help you stay in control of your pension, even when things may not go your way. Keep reading to find out more!
How to deal with pension disputes
If you find yourself in the midst of pension disputes with your pension scheme, here are the steps to follow to make the process as easy as possible.
Please note: It is important that you remember to not rely on information or stories from other members. Your situation will always be different and therefore must be dealt with accordingly.
When you contact your pension scheme or company
The first thing you need to do is contact your pension scheme and ask for specific information regarding your personal circumstances. Make it clear that you are a member of the scheme or a policyholder and provide them with your information so that they can easily find your records.
Any information you receive about your pension should be given in writing, signed and dated. Verbal confirmation will not be enough if you need to readdress the situation later.
Staying in the loop
Keep in touch with your pension provider. Should your circumstances change in any way, be sure to make them aware as early as possible. And if something does change in the future, make sure you know what will happen to your pension, whether it be if you take early, die or become incapacitated, or anything similar. Be sure to file all your information in one place and let your loved ones or Executors know where you have put it.
When it comes to your benefits, make sure that any statements you receive confirm any promises that have been made to you. It would also be wise to check calculations to make sure everything is correct.
If you find that any information you receive doesn’t seem to be correct, query it. And if there is anything you don’t understand, such as pension jargon, don’t panic. There is nothing wrong with asking questions!
Letput your mind at rest
If you do have any questions, it could help to seek expert financial advice. At Haven IFA, we have been providing individuals in the Greater Manchester area with valuable advice that has helped them put their pension investments to work, ensuring an enjoyable retirement. If you would like to learn more about how we can help you, get in touch to speak to a member of our team.