It is typical for an employee, especially if he has been in the company for quite some time, to look forward to some benefits such as retirement. Retirement is one of the things many look forward to simply because at last, the pension you have been paying for a long time, you can now enjoy it. The only thing that can destroy whatever hopes you have is when unfortunately you got a company that has suddenly declared bankruptcy and with it, your pension benefits are also in limbo.
Should this unfortunate event happen to you, you should not lose hope because there are always ways to get back what is originally yours. What you can do is apply for a pension compensation at the Pension Protection Fund. The whole process may take some time however this is better that not getting any pension at all. Should your company is no longer able to fulfill your pension, you can definitely be helped by applying to more on the subject.
However, it’s a different process when your company is able but is not willing to give your pension. You can always make a move to voice out your complaint. The only thing about doing all the work by yourself is if you haven’t got enough time to process everything. Also, there is the issue of the expertise. This may be something that is off your expertise and you can’t guarantee that you will be able to succeed at the end of the application. If this is the case, then your best option would be to choose a company that caters applying for a pension compensation. It would save you all the time and resources to process everything.
In finding the best company to handle your claim, it would be ideal to scrutinize the company you are seeking out help in order to be assured of that much needed pension compensation. You can start by checking on the track record of the company. Check the previous cases handled by the company and what are its success rates. You may be in such situation because of an ill-advised pension transfer away from a company pension or it could be that you have been mis-sold a pension. There are even some instances where it involves moving out of a state scheme and into a private scheme. What will matter most now is how equipped are your companies in handling your case.
It would also be ideal to check for the fees the claims company is suggesting. Double check the charges and avoid getting a company who has a complicated charging structure and will have you indebted. Oftentimes, claims management companies charge only 20% of the total payout you will receive. To make sure you won’t be spending more that what you will be receiving, opt for companies that offer a “no win, no fee” policy. This way, you are in no obligation to pay them in the event the whole appeal is not successful. Always bear in mind to look for the right people when dealing with something especially if it is a claim such as your pension.