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Alex J.
Alex J., Solicitor
Category: Law
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Experience:  Solicitors 2 years plus PQE
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A company called xxxxxxxx xxxxxxxxxxxx claims to do pension

Resolved Question:

A company called xxxxxxxx xxxxxxxx claims to do pension administration. I have names, telephone numbers, email addresses and names. This company is not registered at the Companies House. They are dealing with my pension funds. The are working with a marketing company called xxxxxxxx. What am I going to do to get my funds back and them out of the picture. They do have a website but but nobody is ever answering the phone or replies to emails.

Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Hi,
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
Who transferred the funds to them? Was it an old pension admin or did you have personal control of it?
Kind regards
AJ
Customer: replied 2 years ago.
I authorised them and the communication was Ok in the beginning. They are still my funds, as they are an administration compony, so they say.
I aim is to consolidate my funds and release 10.000 £ to me for roof repair.
Expert:  Alex J. replied 2 years ago.
Hi,
Thank you.
Are the funds still in a bank account belonging to you? Or were the funds transferred to a new account?
Kind regards
AJ
Customer: replied 2 years ago.

they are hold on my behalf by the companies I have worked for, e.g. xxxxxxxx , xxxxxxxx , xxxxxxxx ,

My investment should be consolidated to my Accenture funds which are invested in xxxxxxxx funds.

Expert:  Alex J. replied 2 years ago.
Hi,
Thank you.
DO you have any terms and conditions you signed with them? For example there must be a right of termination or assignment of administrator?
What have you actually signed with them?
Kind regards
AJ
Customer: replied 2 years ago.

They required proof of identity, and residential address, A Client Financial Information Form - Pension Switch Review, a Letter of Authorisation of Information Only (xxxxxxxx xxxxxxxx ), a Client Agreement for our Self Invested Personal Pension (SIPP) Service with a paragraph of Termination at any time, and an Attitude to Risk Questionnaire. Send via registered letter

Expert:  Alex J. replied 2 years ago.
Hi,
Thank you.
They dont actually have physical control of the funds - the money is not in their bank account.
As a starting point have you served them with a termination notice? Have you found a new admin?
On the client agreement what is the name of the party that you are entering into the agreement with?
Kind regards
AJ
Customer: replied 2 years ago.

The name on the client agreement form is

xxxxxxxx xxxxxxxx xxxxxxxx

Expert:  Alex J. replied 2 years ago.
Hi,
Thank you.
Have looked into this further, I do not think this is such an issue.
The Companies House registration is not a problem, the agreement you have signed is with a LLP regulated by the Financial Conduct Authority. They appear to have no history of complaints or wrong doing. http://www.fca.org.uk/register/ - you can check their registration here - No 531998
What I suggest you do is firstly find a new administrator. Then write to this LLP and demand they terminate your arrangement. If they do not you can then go and make a complaint to the Financial Conduct Authority. As the regulator they will be able to force this regulated body to take action - this will be far more cost effective than court action.
Kind regards
AJ
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