UK Family Law
UK Family Law Questions Answered by Verified Experts
Hi Thank you,
There would be very significant losses in the fund as there are guaranteed annuity rates on the policies, any the pension company have said they will not bend the rules to help me. Doesn't the Pension company have any responsibility to help me sort out the problem as they have lost the trust papers and also one of the original policy documents? and doesn't my ex have a responsibility to act in the interest of me the policyholder rather than in his own interest? TS
Well how do they know it is in trust if they cannot find the deed? That sounds like nonsense. You can complain about that but it is not up to them to sort out the fact you wrote it in trust. Most trust deeds allow you to appoint trustees and beneficiaries. The form of trust deed would normally be that mandated by the pension company. Your ex does not owe you any duty at all but if you have had a financial settlement you can always go back to court. I would get a deed drawn up appointing your children as beneficiaries and if possible additional trustees and send it the pension co. if as is normally the case there is power to do this the deed it should be effective. Have you asked the IFA who set up the policies if they have a copy? At the end of the day you may be better to switch policies and lose the guarantee than to lose the whole fund to your ex.
Thank you. That is helpful.