{"id":11008,"date":"2016-04-20T13:00:05","date_gmt":"2016-04-20T06:00:05","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/friends-life-cut-my-pension-by-half-then-failed-to-sort-it-out\/"},"modified":"2016-04-20T13:06:03","modified_gmt":"2016-04-20T06:06:03","slug":"friends-life-cut-my-pension-by-half-then-failed-to-sort-it-out","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/friends-life-cut-my-pension-by-half-then-failed-to-sort-it-out\/","title":{"rendered":"Friends Life cut my pension by half, then failed to sort it out"},"content":{"rendered":"


\nI\u2019ve received a lump sum, but nothing else since NovemberSome \u00a316,000 of the contributions I paid into my Friends Life pension for 20 years appears to have disappeared. In November I filled in the forms to cash in the pension. I opted for a lump sum of \u00a35,483.48 and an annuity of \u00a3655. I received the lump sum but discovered that Friends Life was paying a pension of only \u00a331.72 a month. The company admitted it had mistakenly given me an annuity of \u00a3331.56, half of what I was entitled to.After my complaint I received a letter confirming that my annuity was now set up for the correct sum starting from November. Since then I have received nothing. Dealing with Friends Life makes the wannabe annuity holder feel a little like Kafka\u2019s Josef K, (only without the aid of his assistants); it is a world where no one will give out an email address, surnames are given reluctantly, there is a \u201c15-day turnaround\u201d for sorting out my annuity (if only) and complaints take \u201cup to eight weeks\u201d to deal with. PM, London Continue reading…
\n
\nSource : theguardian.com
\nRead more…Friends Life cut my pension by half, then failed to sort it out<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I\u2019ve received a lump sum, but nothing else since NovemberSome \u00a316,000 of the contributions I...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-11008","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2Ry","jetpack-related-posts":[{"id":87173,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pensions-is-it-right-to-charge-45-55-tax-on-incomes-above-26000-patrick-collinson\/","url_meta":{"origin":11008,"position":0},"title":"Pensions: is it right to charge 45-55% tax on incomes above \u00a326,000? | Patrick Collinson","date":"May 5, 2018","format":false,"excerpt":"\r High earners get 40% relief, lower earners 20%, so the poor get much less tax relief than the well-offThis is going to be a difficult column to write. I\u2019m about to make a plea for tax changes on behalf of people with \u00a31m-plus pensions. Why? Because our tax system\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11102,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pensions-fca-proposes-protections-for-people-planning-to-sell-annuity\/","url_meta":{"origin":11008,"position":1},"title":"Pensions: FCA proposes protections for people planning to sell annuity","date":"April 21, 2016","format":false,"excerpt":"\r City regulator says some may risk running out of money in retirement, and others may not realise the true value of their plan People considering selling their annuity should be given risk warnings by the firms involved, under proposals set out by the City regulator. From April 2017 people\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29937,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/poor-behaviour-at-pension-firms-sparks-probe-into-annuity-sales-practices\/","url_meta":{"origin":11008,"position":2},"title":"\u2018Poor behaviour\u2019 at pension firms sparks probe into annuity sales practices","date":"October 14, 2016","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...\u2018Poor behaviour\u2019 at pension firms sparks probe into annuity sales practices","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5382,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pension-shakeup-in-budget-leaves-14bn-annuities-industry-reeling\/","url_meta":{"origin":11008,"position":3},"title":"Pension shakeup in budget leaves \u00a314bn annuities industry reeling","date":"March 21, 2014","format":false,"excerpt":"\r \u2022 Fears retirees will splurge cash or leave it to languish\u2022 Shares plunge as sector is forecast to contract hugelyThe dramatic liberalisation of Britain's pension system unveiled in the budget is likely to pump up house prices, spark a bonanza for estate agents, car dealers and cruise ship operators\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":667,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/where-should-you-invest-a-lump-sum-of-money\/","url_meta":{"origin":11008,"position":4},"title":"Where should you invest a lump sum of money?","date":"October 29, 2014","format":false,"excerpt":"\r If you\u2019re lucky enough to have a windfall of \u00a31,000, \u00a310,000 or even \u00a3100,000, here\u2019s how you can put it to workIf you\u2019re lucky enough to find yourself with a lump sum of cash, don\u2019t get too excited. If you blow the lot on a spending spree or foreign\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26077,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/annuity-rates-plummet-making-2016-worst-year-for-payouts\/","url_meta":{"origin":11008,"position":5},"title":"Annuity rates plummet, making 2016 'worst year for payouts'","date":"September 14, 2016","format":false,"excerpt":"\r Average income for retiring pensioners has fallen by 15% so far, MoneyFacts data revealsAnnuities have suffered their worst year on record, with payouts to newly retiring pensioners falling by 15% so far during 2016, according to data provider Moneyfacts.Annuities are an income for life, whereby those retiring can swap\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/11008"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=11008"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/11008\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=11008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=11008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=11008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}