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Lertter to send to those known to be transfers

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					• 1998

Dear


YOUR P E N S I O N: WERE YOU BADLY ADVISED?

This is important – please read it carefully. It is not a circular.


Our records show that you took a transfer of £          from an employer’s
pension scheme to a personal pension (policy number [            ] on
[          date]). This transfer took benefits which you had built up in an
employer’s pension scheme and transferred them to a personal pension
policy.

Our Regulator has asked all firms it regulates to offer investors like you the
chance to have your case checked. This check will see if you were correctly
advised to make this transfer. If you were badly advised, and have lost out
as a result, you may be entitled to compensation.

This applies to you even if you have now stopped your personal pension or
transferred it somewhere else.

If you do want your case checked, you must respond by completing the
enclosed [           colour] information request form as far as you can, and
returning it in the envelope provided.

We have included a quick question and answer guide to help you decide if
you should have your case checked. We also enclose a Factsheet provided
by the chief financial services regulator, the FSA, explaining more about the
review of personal pensions and why it might apply to you. It may be
helpful to read this first. You should keep both of these items for your own
records.

If you are still unsure what to do, call us on            .

Yours sincerely



                                                                      Transfers 19
        There may have been many reasons why you decided to transfer your
        pension into a personal pension scheme. For example, you may have
        wanted all your pension in one place.

        Whatever the reason you should have been advised to consider the
        financial difference between your employer’s pension scheme and a
        personal pension scheme. You should have understood that what
        you’d get from your personal pension would depend mainly on how
        well investments perform, while what you’d have got from your
        employer’s pension scheme would not.


         Answer this question to see if you should get your case checked.

Q.      Did you understand that what you’d get from your personal pension
        could be less than what you’d get from the employer’s pension scheme
        you left?

         s     Yes      s    No

        If you answered ‘No’ or you are unsure, you should ask for your case
        to be checked by completing and returning the enclosed information
        request form.

         If you answered ‘Yes’, there is less likely to be a problem with your
         case, and you may decide to take no further action.

        Remember, if you are unsure you should complete and return the
        enclosed form.


        If you have any queries, call us on . . . . . . . . . . .

        PLEASE KEEP THIS QUESTION AND ANSWER GUIDE
        FOR FUTURE REFERENCE – DO NOT SEND IT BACK
        WITH THE INFORMATION REQUEST FORM


20 Transfers
Please answer the questions on this form by writing in the details or
ticking the right boxes. If you don’t know the answers to some
questions and cannot find them out, don’t worry but please fill in as
much as you can. You can write down any other information you
think is important on a separate piece of paper and send it back with
this form.

If you have any queries, please call us on . . . . . . . . . . .

I F YO U   DO    WA N T YO U R CA S E C H E C K E D, I T I S V I TA L TO S I G N
A N D R E T U R N T H I S F O R M , E V E N I F YO U CA N N OT P ROV I D E
A L L T H E I N F O R M AT I O N .




Our records tell us that your personal details are:
           Name      [Insert Investor’s name]

       Address       [Insert Investor’s address]




     Postcode        [Insert Investor’s postcode]

   Policy No:        [Insert Investor’s policy no.]

Date of Birth        [Insert Investor’s D.o.B.]



If any of this information is incorrect please correct it in the space
beside it.

Now we need to know whether you are . . . . . . ?


s    Married          s    Single       s   Divorced         s    Widowed


                                                                             Transfers 21
         Our records show that you took a transfer of [£          ] from an
         employer’s pension scheme to a personal pension on [          ] date.
         Please fill in the name and address of the employer whose pension
         scheme it was:
         Name of employer
                     Address




         Can you remember the name of the scheme itself?
         If ‘Yes’, please fill it in here:

         Name of employer’s pension scheme from which the transfer
         was taken




         When you were in that employer’s pension scheme, you would
         probably have been given a copy of the scheme booklet describing the
         scheme. Do you still have a copy of this booklet?
         If so, please send it to us.

         Is the booklet enclosed?

         s     Yes     s   No

         All documents supplied for this and any other questions will be copied
         and the originals returned to you



         When you left that employer’s pension scheme (and transferred your
         pension), you would have been given a benefit statement setting out
         how much pension and other benefits you were entitled to from that
         employer’s pension scheme. Do you still have a copy of this benefit
         statement? If so, please send it to us.

         Is the statement enclosed?

         s     Yes    Please skip to question 10

         s     No     Please continue with question 5




22 Transfers
If you are not able to send us your benefit statement, we can estimate
the benefits you were entitled to from the length of time you were a
member of the scheme and your pay at the time you left.


Please answer questions 5 to 9 if you said No to question 4:


For questions 5 to 8 please give the month and year




When did you start working for the employer that you took the
pension transfer from?


ss     19 s   s




When did you stop working for that employer?

ss     19 s   s




When did you join that employer’s pension scheme?

ss     19 s   s




When did you leave that employer’s pension scheme?

ss     19 s   s




                                                           Transfers 23
         What was your total pay at the time you left the employer’s pension
         scheme before tax or any other deductions?


         Please indicate whether this is for a year, month or week


         Basic pay:     £_______________    s   per year   s   month   s   week


                        Is this exact s    or approximate s ?


         Overtime,
         bonus, other
         additions: £_______________        s   per year   s   month   s   week


                        Is this exact s    or approximate s ?


         You should be able to find this information on an old payslip or P60
         (the statement provided by your employer each year which sets out
         your total earnings for the tax year).


         If you can find a payslip or P60 from that employer relating to the
         time just before you left, please return one (or ideally both) with
         this form.




         Everyone answer . . . . . . . .


         What is the name and address of your current employer?


         Name of employer

                      Address




24 Transfers
If you have transferred your personal pension away from
[NAME OF PRODUCT PROVIDER ] please give below the
details of the insurance company or other pension scheme
to which you transferred it.

Name of insurance company (or pension scheme):



Policy number (if relevant):




Do you have or have you had in the past a personal pension with
anyone else, other than [N A M E O F P R O D U C T P R O V I D E R ]?


s   Yes       s   No


If ‘Yes’, what is the name of the insurance company it is with and the
policy number?


Name of insurance company:



Policy number :




                                                               Transfers 25
         Please sign below to indicate that you would like your case to
         be checked.


         As part of this check we might need to ask your current employer or
         ex-employer(s) for some information about their pension scheme(s).
         If you have transferred your personal pension elsewhere we may also
         need to contact the company or scheme to which it has been
         transferred.


         So that we have your authority to do this, please sign your name in
         the box below.

         We will only contact any of these people if it is necessary to check
         your pension.




         I would like my case to be checked. In addition I give my permission
         for you to contact my current employer, ex-employer, their pension
         scheme(s) or the company with which I have another personal pension
         (if relevant) for information that you may need to check my case.

         Signature

         Name
                     in capita l s

         Date




         It would be useful to have your telephone number and the best time
         to contact you in case we have any queries about the information
         you have provided.

         Telephone number:

         Time:         Between: ______________ and ________________




26 Transfers
And finally . . . . . . . .


                     . . . . . . . . please go through the checklist below,
 and then return this form and any documents such as the scheme
 booklet or your benefit statement, payslip etc in the envelope
 provided – thank you.



 CHECKLIST

 If you want your case checked , sign this form and send it back in the
 envelope provided with:

 • A scheme booklet about your employer’s pension scheme                  (Q3)
   if you possibly can
   – do not delay sending this form back if you can’t

 • Your benefit statement, if you have it                                  (Q4)
   If you are not able to attach a benefit statement please
   complete questions 5 to 9.

 • A P60 (the statement provided by your employer each year               (Q9)
   which sets out your total earnings for the tax year) OR a
   payslip from about the time you left the employer from
   which you took the pension transfer OR ideally both a P60
   and a payslip
   – do not delay sending this form back if you do not
   have these


 IF YOU WANT YOUR CASE TO BE CHECKED IT IS
 V I TAL TO SIGN AND RETURN THIS FORM – EVEN IF
 YOU CANNOT PROVIDE ALL THE INFORMAT I O N
 REQUESTED


 All information provided will be treated in the strictest
 confidence and will not be used for any other purpose than the
 review of your pension.
 All documents supplied will be copied and the originals returned
 to you.



                                                                   Transfers 27
• 1998                        REMINDER

Dear

YOUR PENSION: WERE YOU BADLY ADVISED?


This is important – please read it carefully. It is not a circular.

We wrote to you recently about the transfer you took of £nnnn from an
employer’s pension scheme to a personal pension (policy number [            ])
on [          ]date. This transfer took benefits which you had built up in an
employer’s pension scheme and transferred them to a personal pension policy.

We have not received a reply to that letter. If you have replied recently, please
ignore this reminder. In case you have lost our previous letter and the forms
that went with it, further copies are enclosed.

Our Regulator has asked all the firms it regulates to offer investors like you
the chance to have your case checked. This check will see whether you were
correctly advised to transfer to a personal pension. If you were badly advised,
and have lost out as a result, you may be entitled to compensation. Please do
consider the letter sent to you recently, and send back the information request
form if you would like us to check your case.

You may not have replied to our previous letter because you have thought
about it and do not want us to check your case. If this is the position, it
would be helpful if you could let us know by completing and returning to us
the attached form.

If you are not sure what to do, call us on              .

We will only check your case if you ask us to. If you want your case checked
you must complete the [            colour] information request form, as far as
you can, and return it in the envelope provided.

Yours sincerely




28 Transfers
O N LY FILL IN THIS FORM IF YOU DO N O T WANT
YOUR CASE TO BE REVIEWED


   Investor’s Name          [Insert Investor’s name]

        Policy No:          [Insert Investor’s policy no.]


If you have considered the letter sent to you recently about your personal
pension and decided, using the Question and Answer guide provided, that
you do not want your case to be checked, it would be helpful if you
signed and returned this form. (This is without prejudice to your
consumer rights.)


If you are unsure it is better to get your case checked now. However, if
after returning this form, you have any concerns about your pension
please phone us on            .




I have considered the letter sent to me recently about my personal
pension, and decided that I do not want my case to be checked.


Signature

Name
            in capita l s

Date




                                                             Transfers 29

				
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