A friend has been contacted by her occupational pension provider to claim thay've been overpaying her for years and wanting the overpayment back.
She spent most of her career as a part-time teacher.
Is there a time limit or any other sort of limit on what they can claim back?
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...I think there's a time limit for taking action, but not necessarily a limit on how far back they can claim.
This link seems to give a reasonable summary:
tinyurl.com/2p9uz3xb
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>>This link seems to give a reasonable summary:
That link provides a good summary assuming it's accurate, and there's no reason to suppose it isn't.
But - is the relevant scheme a public service pension scheme or a trust-based private sector one? Or something else e.g. an annuity?
I could write a long answer about how I as a pension trustee would view this but it seems likely that it's a public service scheme. They don't have trustees although they do have responsible boards.
Make the arguments to the administrator. If not happy with the resolution, look for the dispute resolution process to escalate.
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>> That link provides a good summary assuming it's accurate, and there's no reason to suppose
>> it isn't.
>>
>> But - is the relevant scheme a public service pension scheme or a trust-based private
>> sector one? Or something else e.g. an annuity?
>>
>> I could write a long answer about how I as a pension trustee would view
This link:
www.pensions-expert.com/DB-Derisking/Overpayment-woes-at-Teachers-Pension-Scheme-continue?ct=true
specifically deals with an example of the Teachers' Pension Scheme, which seems to align with the previous link I posted.
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Thanks for that, could be very useful.
Last edited by: bathtub tom on Thu 6 Oct 22 at 10:51
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I was overpaid on retirement - the 25% tax free pot was roughly £6,000 overpaid and I had the option of paying tax on the £6K or agreeing to pay back the money.
I did not want to pay tax and paying back was my only option - the Pension admin people wanted to take roughly £1,000 per month for 6 months. I said I would pay back £50 per month for 10 years. We met in between and they took £250 for 22 months - 2 months free as it was their fault. They then said my pension was under what it should have been and duly increased the gross pension.
Over all the pensions I was due did any company, insurer or DWP get it right first time - they all made mistakes.
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pensions question - tyrednemotional
