Non payment of Financial advice allowance payment

[onejontwo]

For anybody out there who is thinking of retiring soon and expecting the "Financial Advice Allowance Payment" of £750 (minus tax and NI) make sure you don't make the mistake that I did and ended up being refused the payment.
Due to sudden personal family problems, I finished work abruptly one weekend, gave my one weeks notice to take early retirement and never returned to work. A few days later I put in for my pension and so went without any income for several months until my pension started to come through. In the meantime I contacted RM Pensions through an e-mail address that "Stephen500" kindly told me about and enquired about the payment. I was told that everything should be ok. However my final e-mail states that" I have received the report and after not seeing your details on it I have conferred with the Pension Service Centre, who have confirmed that as you had not returned the paperwork to put your contributions into pension prior to your last day of service your record was set as deferred.
This unfortunately means that you are not eligible for the Financial Advice Allowance Payment so I cannot approve it for you".(This was pretty much impossible as I hadn't received any paperwork to return!)
I believe it will not be available in the near future anyway due to a change of pension scheme but if you are still eligible make sure you do it by the book or you could miss out.

[padrick]

sorry to hear you missed out , I had no idea this payment was available until I got a wage packet with nearly £530 in it . (£750) before tax and Ni, I didn't have to contact pension service just got it automatically when my pension started to get paid.