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Pension Overpayment (Read 4868 times)
DavidJames
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Pension Overpayment
Jan 9th, 2016, 9:32am
 
Looking for advice please ..............."Old" Pension Scheme - made redundant at the age of 53 in the early 2000's so took the early pension deal offered at the time.

I assume because of number-crunching associated with the PIE scheme which I gather will be offered to me in due course, I have just received a letter from The Pension Scheme informing me that due to an administrative "mistake" when my Pension started 14 years or so ago, I have been overpaid by nearly £30k and could they have it back please - ideally by 12 equal monthly payments starting in April 2016.
Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed

I will obviously be talking to the Pensions Advisory Service and others before deciding how to proceed, but I wondered if anyone else has  found themselves in a similar position, and where you went for expert and impartial advice.
Thanks.
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Knocking On
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Re: Pension Overpayment
Reply #1 - Jan 10th, 2016, 12:38pm
 
Hi David,

Wow just what you don't need to start the new year!

I have Googled "Over paid  by Occupational Pension Provider". A useful looking website has come up: "The Pensions Ombudsman Service" (020 7630 2200).  

There is a section dealing with overpayments....and repayments.

Have a look..it seems to address your situation and mentions  remedies.

Good luck...Oh and Happy New Year!
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DavidJames
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Re: Pension Overpayment
Reply #2 - Jan 11th, 2016, 4:47pm
 
Thanks. Yes - I have looked at the Pensions Advisory Service Website and the Pensions Ombudsman Website, and that gives me some comfort that I may be able to negotiate a less painful outcome than the one 'offered' in the letter from Cardiff.
If I had been working for a few years in (say) a small local engineering company with a part-time clerical assistant who "did the money stuff", then I would find it easier to accept that such a major thingy-up could be made and not noticed. But ................................  Smiley Smiley
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DavidJames
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Re: Pension Overpayment
Reply #3 - Jan 11th, 2016, 4:49pm
 
I didn't write "thingy-up" but that's the way it got translated.
And - Happy New Year to you too !!
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Re: Pension Overpayment
Reply #4 - Jan 14th, 2016, 8:52am
 
This story is worrying and David James has our full sympathies. †Let's hope the Ombudsman can instruct the BBC not to recover money from him, since the error was entirely their own. †

This forum has heard from one other member who has been notified by the Pension Scheme that he has been underpaid throughout his long retirement. †Not by a large amount, but he will be receiving a lump sum to make up for the underpayment. †He also gained the impression from the Pensions people that this discovery came from an audit and that there may well be others who have been affected, one way or the other.

Please post here or let us know by PM if you are among those affected.
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DavidJames
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Re: Pension Overpayment
Reply #5 - Jan 14th, 2016, 3:08pm
 
Thanks for that.
Early days yet - have written to Cardiff requesting more details of the calculations etc., and will look at their reply before deciding what to do next.
I will try and keep this thread updated as things progress - it may help others in the future.
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Bill Jenkin
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Re: Pension Overpayment
Reply #6 - Jan 16th, 2016, 6:52am
 
Also the BBC Pensioners Association may be interested in this. †If you are not a member it may be worthwhile joining. †www.bbcpa.org.uk
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Re: Pension Overpayment
Reply #7 - Jan 18th, 2016, 9:41am
 
It would be good to hear from our Pensioner Trustee about this.
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NickW
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Re: Pension Overpayment
Reply #8 - May 14th, 2016, 1:00pm
 
I'm new to this forum. I've recently left the BBC after over 26 years on staff in two periods of service. I left the second time, having taken voluntary redundancy after my team was moved to a new location.

I have two pensions one in Old Benefits and one in New Benefits. Both pensions have been in payment for a few years, since age 60.

I received a shocking letter 10 days ago to say they have just found out that the OB pension was transferred to Scottish Equitable (aka AEGON) back in 1989! So my BBC OB pension will be stopped. I have also been told I also have to repay £40k! BBC pensions provided no evidence or supporting documentation to substantiate their claim.

I most definitely never asked to transfer the funds. I keep good records and I have never signed a transfer form and neither has my wife, as was required from the second beneficiary. I have never had any dealings with SE or AEGON.

So I've emphatically disputed their claim, with my supporting correspondence and records from 1990. I am now waiting for the case to be investigated. I'm wondering if it was because my old staff records from the first period of employment (ending in 1989) were never transferred from the old manual system (COPPER - I think) onto computerised records. So I have two staff numbers and two pension accounts.

I'd be interested to hear if anyone else has had a similar experience, how it was dealt with and what the outcome was.
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DavidJames
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Re: Pension Overpayment
Reply #9 - Sep 17th, 2016, 2:48pm
 
My original post was on January 9th. I am STILL in negotiation with the BBC Scheme about what should, or should not, be repaid. It's like chipping away at a granite wall - I have involved the Pensions Advisory Service who have been extremely helpful.
I suspect that a proper audit of the pension scheme has NEVER been done, and that it is only as a result of all the number crunching associated with the PIE option that these  sort of "mistakes" are coming to light.
But - that's just a guess !!
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NickW
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Re: Pension Overpayment
Reply #10 - Sep 25th, 2016, 10:52pm
 
There is a BBC Pensions liaison meeting being held by the BBC PA on the 18th Oct where scheme members can put questions to the trustees. This may be of interest.

http://www.bbcpa.org.uk/pension-liaison-meeting-2016/
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Dickie Mint
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Re: Pension Overpayment
Reply #11 - Sep 26th, 2016, 4:45pm
 
It's worth joining the Pensioners Association.  It's only £15 a year, and apart from representing its members there are benefits, like Radio Times at £1.50 a copy instead of the current £2.30.

Take a look at their website, too.

No association with BBCPA, other than as a new member!
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Regards,
Richard
 
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DavidJames
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Re: Pension Overpayment
Reply #12 - Nov 17th, 2016, 6:15pm
 
Just to put a "resolved" on this one ................

After nearly a year of extremely stressful to-and-fro-ing - and with very helpful input from the Pensions Advisory Service, we have finally agreed a compromise solution.
It's not perfect, and I'm not happy with the intransigent and inflexible nature of the dialogue I have had with the Pension Scheme, but  I think it's an acceptable "least-worst" option.

I recommend the Pensions Advisory Service to anyone who finds themselves in a similar position - they don't take sides, but will try to negotiate a mutually agreeable and sensible result.
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NickW
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Re: Pension Overpayment
Reply #13 - Nov 17th, 2016, 6:35pm
 
Glad to hear that you've got it sorted at last David. The PAS have advised me too, but I'm still negotiating with the scheme and have a way to go. But at least they have said they are responsible for the error. I'll pass the case to PAS if it isn't resolved satisfactorily. But I'm considering if I should take personal legal advice before accepting an outcome or passing it on to PAS.
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