Now devaluing an agreed pay out figure, taking 18% of pot!
1
I've been in touch with Aviva now 3 times to cash in a poor performing pension from 2 previous employers going back 25 years. Initially I was told that the 'cash in value' 3 weeks ago was over the 20k so wouldn't qualify for SLS payment as I'd already used one, leaving just 2 available - so that option couldn't be used, spoke again 4th Mar (5 working days ago) and a depreciation had occurred of £688, taking the sum just below 20k meaning the SLS method could be applied, so agreed to the figures, digitally signed, the charges and depreciation taking the final sum to me of £18500 - 12% in fees and depreciation. Today, lo and behold - an email via secure Aviva saying a further 6% to come off - another £1200 - a total of 18% - that's more than the taxman would be taking! What's the crack here - is the Aviva Xmas party underfunded or what! Awaiting communication back!
Reviewed on: 10th March 2022
