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Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4543
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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I applied in Feb 2015 to transfer my navy pension into my Scottish

Resolved Question:

I applied in Feb 2015 to transfer my navy pension into my Scottish widows pension. Scottish widows took one month before sending the paperwork to the navy, and in April 2015 the law changed preventing ex forces personal transferring pensions. Therefore because of their delay I lost out on the 25%tax free sum of £27,000.00 which would have paid of my credit card debts. Do I have the option to sue them for the financial loss, because they were still under there impression in May that this transfer was going ahead. Surely as a financial pension company they should have been aware of the change in law.
Submitted: 1 year ago.
Category: Finance
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Friend, Hello and welcome. Thank you for providing an opportunity to assist you. From what I understand from your situation, I feel, YES, you definitely have a case against them. Their taking one month, just for forward the papers to the Navy is nothing but a deficient service. You can sue them for this. You would not have able to do anything if the Navy took to long to process. But yes, as a financial company, they are supposed to be aware of the change in law. Over and above this, they have no justifiable reasons to show what caused them to take one whole month, just to send the paper work. I strongly believe you have a case against them for damages. You may consult a local solicitor with all your details and papers and see how should you begin. I am sure this would help. I wish you good luck.You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.Warm Regards,
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