On receiving an offer, what is the chance of success by rejecting an offer? I understand every case may be taken on its own merits but do most accept or appeal? Do pensions companies try it on and make a lower offer at the outset? Please advise.
Many thanks.
On receiving an offer, what is the chance of success by rejecting an offer? I understand every case may be taken on its own merits but do most accept or appeal? Do pensions companies try it on and make a lower offer at the outset? Please advise.
Many thanks.
Is the offer fair or not? If it is, accept it. If it's not, contact them and ask them to up it. Or when negotiations have come to and end, take it to the Ombudsman if you're still not happy.
Rob Graham
I am thinking in laypersons terms, what basic criterion that may be used? How can one, with little financial knowledge, best decide? Is it reasonable to trust that the pension claims are usually handled fairly? Do most accept the first offer?
The calculation is complicated. There are criteria laid down as to how it should be done and some firms have software to help them. Some others use an actuarial service to do the calculations. The only way you'll really know whether a mistake has been made is if you get an actuary, or someone with experience of doing the calculations, to check the figures. But this will cost you around 300.
The chances of a mistake being made are not great, but it's always possible.
Rob
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.