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Ben Jones
Ben Jones, UK Lawyer
Category: Law
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My private pension did not pay as much as originally forecast

Resolved Question:

my private pension did not pay as much as originally forecast because of a fall in the European markets. Would I be able to claim compensation under the current PPI regulations
Submitted: 2 years ago.
Category: Law
Expert:  Ben Jones replied 2 years ago.
Hello, my name is ***** ***** it is my pleasure to assist you with your question today. Did you actually have PPI protection on this policy?
Customer: replied 2 years ago.

Sorry I don't know if I did or not.

when I used to get my annual pension forecasts from CIS they where very good until there was a fall in the European markets for a matter of a couple weeks.it was then that I lost my accrued interest and my pension forecast and lump sum payments were cut dramatically and never recovered. unfortunately I have been unable to find an answer as to why.

Patrick

Expert:  Ben Jones replied 2 years ago.
Hi there, PPI schemes are very unlikely to cover you for this situation. First of all you need to check if a PPI scheme actually existed on this policy - without one you cannot even try to rely on it. Secondly, PPI schemes are really there to cover the inability of the policy holder to repay certain loans if they become ill or lose their job. So it really applies to policies like mortgages, credit cards, etc where you are liable to repay a loan and may find yourself in a situation where your circumstances change and you are no loner able to repay the loans. PPI would not cover the under performance of a pension scheme unfortunately - nothing really will as the pensions market is based on market investments and these are inherently unpredictable - it is like gambling - it could be going well but any market issues could have an effect on these investments. I hope this has answered your query. Please take a second to leave a positive rating, or if you need me to clarify anything before you go - please get back to me and I will assist further as best as I can. Thank you
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