Form E!!! Missing Attachments

Ok,

From what Maggie has dug up it would appear that shadow membership is not available(i.e. you will not be offered defined benefits by ICI).

It is worth getting this is writing to ensure you have the up to date position. The document appears to be for the senior executives (and is likely to be relevant for all members) but I would still take the effort to write to the scheme and get written confirmation.

If this is the case, you have two options: 1.take an external transfer to a scheme of your choice, or 2. use ICI's default option - details of which are not available.

I would suggest that a comprehensive review of these options is undertaken, in line with your goals and objectives. Immediate questions which spring to mind are:

Will you need and can you take an pension income immediately.
Is the default option restrictive in anyway? Have you got a pension scheme already which could take a pension share.

I hope this helps.

Regards

Phil

I think the "default option" referred to in the scheme rules is the WRPA 1999 right of all pension schemes receiving a pension sharing Order to deal with a pension credit in the absence of any confirmation from the ex-spouse.
In my case I appealed against being "expelled" from the defined benefit section and pretty much decided to do nothing - ie not accept/facilitate a transfer out - until they gave in/saw the error of their ways - but I was referred to this legal entitlement of the scheme to expel me anyway -ie to transfer my pension credit to any scheme chosen by the pension trustees regardless of my preference to accept their original offer of membership of the defined benefit section.
Obviously this would only happen after the ex-spouse had had reasonable time to decide what to do with their share - ie to inform the trustees/pension admin. of the destination they'd chosen for their share.
It is such a difficult choice that some people taking time to consider might run the risk of having the destination chosen for them by the scheme.
In my case the scheme seemed likely to stick my pension credit in its AVC section at a 1.5% annual charge - I didn't want them to have the benefit of my share - they'd already made a killing on getting rid of some their pension liability thanks to kicking me out of the final salary pension paradise.
I defaulted to a low annual charge stakeholder in cash and pension protector funds - still stagnating.
I sometimes wonder if they might have retained my share in the defined benefit section if I'd continued to stall and complain.
I also wonder if I would have been any better off if my pension credit had been kept in the defined benefit section.
At least I wouldn't have to constantly actively keep tabs on government policy on pensions and annuities which changes every verse end.

I have seen two sides to the default option.

I have seen poor offerings where for example, only a cash fund is available and ones with high charging structures. Others offered good value with good fund selection and low charges. I guess the proof is in the pudding.

It is worth checking the default option out in detail because it could be better than anything that an IFA could offer from the open market and be perfectly suitable for your needs.

If not you will need to look at the best options on the market based on your needs / objectives / etc.

Regards

Phil

I've looked at some of the pension credit member deals aka "shadow membership" published online - trying to get some idea of what I lost by not being allowed to keep my share in the defined benefit section, but there's not much detail.
For me the big advantage of a defined benefit pension is the guaranteed predictable income and the index-linking in payment- even CPI is better than nowt.
Index-linked annuities are a joke?
Do people with pension credit pensions in final salary schemes get a guarantee of an income based on the member's salary at the date of divorce and an annual statement confirming what their eventual pension will be
ie a risk-free deal for them?