Nestle and Cereal Partners Pension Fund
The Nestlé and Cereal Partners Pension Fund represents a collaborative effort between Nestlé UK and Cereal Partners Worldwide, a joint venture with General Mills, to provide retirement benefits to their employees. This pension scheme offers both defined benefit and defined contribution plans, tailored to the diverse needs and preferences of their workforce. The defined benefit section provides a stable and predictable retirement income based on an employee’s salary and tenure with the company, which is especially valuable in ensuring financial security for retirees. On the other hand, the defined contribution plan allows employees to build their retirement savings through their own contributions along with employer matches, which are then invested, with the retirement income depending on the investment’s performance. Managed with a focus on sustainability and responsible investment, the pension fund is designed to ensure long-term viability and security, reflecting Nestlé and Cereal Partners’ commitment to supporting their employees’ financial well-being into retirement.
Are you someone who transferred your Nestle UK Pension or Cereal Partners UK pension?
Nestle DB Core and DB Core Plus pensions provide a guaranteed income in retirement, but are now closed for new members. These pensions were both defined benefit schemes that were based on a worker’s average career salary. The schemes promised an income that was guaranteed when a worker reached retirement. They are some of the safest pensions around.
Although these pensions are very enviable, some people have been persuaded to move funds out after being given poor advice about how much money they can make from transferring. Transfers of this nature are very rarely suitable and often expose the individual to a certain level of risk that they simply weren’t expecting.
Advice offered by financial advisors was likely to be negligent and not in line with the various regulations and rules put in place by the Financial Conduct Authority (FCA) that are there to ensure that a pension transfer is suitable and within the best interest of the client.
Our team of experts is highly experienced in handling cases where individuals have been given negligent advice and missold pension products and are able to quickly decide if you are entitled to a compensation claim.
Please contact us for a chat to discuss all of the options that are available to you. Our fees are very reasonable given the fact that we do not buy in data and do not run a call centre. Your initial discussion with one of our experts is free of charge and they will be able to provide you with detailed information on how you can progress your claim.
You will only ever be required to pay our fees once you have received your compensation and only if you were happy with our service.
Call us now for a phone or video consultation with one of our legal experts on 0800 041 8358 to find out if you are entitled to compensation, you may even be entitled to additional compensation if you have successfully claimed in the past.
