Package holiday refund rules to be suspended?

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Gill W
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Package holiday refund rules to be suspended?

Post by Gill W »

According to Simon Calder, plans are in hand to suspend the travel operators obligation to refund the customer if the holiday is cancelled.

https://www.independent.co.uk/travel/ne ... 17261.html

He's saying that new legislation will mean that holiday providers will be able to offer a 'credit note' for two years'. If the credit note isn't used at the end of two years, you could have your refund then.

I'm bracing myself to prepare for not getting my money back in cash from Fred Olsen until 2022.
Gill


anniec
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Re: Package holiday refund rules to be suspended?

Post by anniec »

Whilst I have every sympathy with the holiday companies, there are many individuals out there who have lost their jobs, much of their pension provision, and on and on it goes. Those of us already in receipt of pensions are the lucky ones (and I know you're not old enough, but many of us are). Many of them have been pretty harsh in the past when their customers ran into difficulties.

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Gill W
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Re: Package holiday refund rules to be suspended?

Post by Gill W »

My income is from my work pension, and my husband has his annuity and his state pension, so we are also in the lucky category.

I think the working population, who are worried about their jobs, and self employed people would really appreciate the money back. As you mentioned, most workers have defined contribution pensions, so the value of their funds will be hammered.

Like many retired people we have money invested in various funds, which have also lost a lot of money. Hopefully, one day the markets will rise again. This is another reason I’m not feeling the cruising love as much as I did before - not feeling as financially confident to spend on cruises.
Gill


Frank Manning
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Re: Package holiday refund rules to be suspended?

Post by Frank Manning »

Gill W wrote:
23 Mar 2020, 17:16
My income is from my work pension, and my husband has his annuity and his state pension, so we are also in the lucky category.

I think the working population, who are worried about their jobs, and self employed people would really appreciate the money back. As you mentioned, most workers have defined contribution pensions, so the value of their funds will be hammered.

Like many retired people we have money invested in various funds, which have also lost a lot of money. Hopefully, one day the markets will rise again. This is another reason I’m not feeling the cruising love as much as I did before - not feeling as financially confident to spend on cruises.
We are in a similar position to you Gill. I piled money into my SERPS for my final five years, and now my state pension is higher than my personal pension. Sue also has a personal pension, but when I bought my annuity I did on the basis of a inflation adjustment annually and 50% for Zue if I die. We feel very lucky, but I still budget 3 months ahead, and save for holidays. Our investments are split 50/50 and put into isa investments. I think they have lost 14% in the current crash. Some friends are self employed and already in dire straights. It's all a dreadful business, especially with young families.

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