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.
|
pensions question new
pensions question new