Monday 7 September 2020

Flummoxing pension things

One thing that I was going on about last week was my pension and how I was trying to get them all in one place. The first response came back on Saturday: the Dutch company I wanted the funds transferred from has not enough money at the moment to do so! I will have to wait until they have some again...

The other company I wanted money transferred from is in the UK and was asking for a lot of information that I need to give them. All was well, apart from one number. So, I called my current Dutch pension fund for a QROPS number and they didn't know. They would ask and I would be called back. Which never happened. Nor did I get an email. 

Today I called back again. I got a nice gentleman on the phone and he helped me out tremendously. Well, up to the point where I asked for the QROPS number. Which completely flummoxed him. He would ask again and in the mean time I would phone the UK to see what they could provide me with. 

So, I phoned the UK. After a long story about how pensions worked and how I could take money bla bla bla bla... I finally got through to a person. Who then didn't have a clue what I was going on about. She asked somebody else and gave me an answer that was not right. At least I thought it wasn't right. Could she patch me through?

I got patched through, I spoke to a Katie (I think) and she said something completely different again. Because she got the story from me and realised I was somewhere else altogether. In the end she found the list with the QROPS numbers on, but could not find the fund. Ah well, not to worry, leave the number out, explain why and send the whole lot to them. Which I will do today. 

Now I just need to phone the Dutch fund again... 

8 comments:

  1. Hari Om
    this is the stuff of nightmares (at least for me!) Hope it is sorted soonest. YAM xx

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    1. I just need to keep on top of it and try to gather the lot in one fund. If I can't do that, I will have to get several different pensions from several different places, which will be annoying in the extreme!

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  2. My husband had the same troubles because he had worked in Italy and then 3 years in Germany ! After he was retired and a lot of paperwork he finally gets the two pensions but each year he has to prove if he is still alive !!

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  3. Good luck with that. Hopefully you will get it all figured out. (So many phone calls!)

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  4. That does sound like a huge hassle. We hope you get it all sorted out soon.

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  5. Pension funds and accounts are a maze. When Hubby retired and I took layoff from the place we worked for 20+ years we pulled all our funds out at that time. However, we kept receiving info about our retirement accounts. The company had changed ownership and one type of retirement account had not been released to us. I had questioned at the time why my account was lower but it was just after the 9/11 market crash so everyone assumed that was the difference. Well, between Hubby and I the new company had records of over $100,000 still in our retirement accounts! That was eventually distributed to us and we reinvested.

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    1. That's one of the reasons I want it sorted now. I still have plenty of years to go, but I want to know in what sort of shape my finances will be once I do retire and if I need extra help at that point through either continued work or something else.

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