Redundancy Overpayment

hcb42

You would have more of a shock if you looked at many private sector pensions, of that I am certain, however that is not the point of this thread, which is about whether the OP will get away with permanently depriving his ex employer and public sector organisation of a significant sum of money.

BodyElectric

Shift it sideways into the highest interest account you can find, wait for them to contact you and when they do give it back minus the interest. They made the mistake not you.

Inactivity is not theft.

hcb42

What about the income tax implications? Isn't only the first £30K tax free?

Milkshock

changing my address seems to be a good play - they cant contact me through the bank can they?

BodyElectric

Milkshock wrote: »

changing my address seems to be a good play - they cant contact me through the bank can they?

Why would you want to do that?

Milkshock

BodyElectric wrote: »

Why would you want to do that?

so they cant come after me for the money

doh!

BFM

granted i wouldn't be busting a gut to tell anyone or in any insane rush to pay it back, but ultimately you do have to treat this as someone else's money and pay it back.

regardless of the exact law of the land its not yours and you know that, at some point (I assume) your previous employers will know that.

stick it in the highest rate account you can find for as long as you can, but setting out to keep it long term is a real scumbag play.

isplumm

michelle1506 wrote: »

Hello,

I am guessing that they could involve the Police for theft, or even sue you for the sum of money?

For what it's worth, I don't think that you got a terrific settlement after 16 years of service. I am public sector worker and was only offered 16k after 10 years service which I turned down, as I would have got limited maternity pay and would have had great difficulty in finding another job whilst pregnant!

So much for us public sector workers get massive payouts! You only need to look around on this board to see that some in the private sector are getting very nice redundancy payouts!

Interesting - when I was last made redundant - I got £290 x 6 - just £1800 for 6.5 years service .... slightly less than your £16k!!! I worked in the private sector ...

Mark

isplumm

Milkshock wrote: »

Hi

Just looking for peoples opinions here.

I was made redundant at the end of last month from a public sector role after 16 years service. My redundancy package totaled 22k.

For some reason, no doubt a clerical error, I was paid twice - therefore received two payments via BACS of 22k, total of 44k. This was not the bank's error, as I received two invoices from the organisation, so its clearly a mistake on their part.

I am now off the payroll, and have no contractual obligations to said organisation.

If these people do make claim on the money (and I'm assuming they will), how likely would it be for them to pursue it (i.e. would it cost them more in legal fees to pursue it than what they would get back from me and therefore potentially put them off), and indeed if they did pursue would the worst that could happen to me be a CCJ? Bearing in mind I already have a mortgage and credit cards, I'm not sure the the effect of being credit blacklisted would be worse than having an extra 22k cash in hand.

Lastly I did have a serious issue with the way I was treated by the organisation in question particularly towards the end - so any moral arguments being made to me will fall on deaf ears - I'm looking purely to protect myself legally and financially and would be quite happy to keep the money!

Thanks

I assume you had a letter from them stating what you payout would be - guess it wasn't the figure you received? Cann't see this being a criminal act? more a civil one.

Is it worth the hassle? Maybe stick in account earning interest & when they ask for it back, keep the interest.

mark

jonnyd281

OP There are enough cases of people who have recieved money they weren't entitled to (ie paid into their bank accounts by mistake) who have gone to prison for keeping and spending it, and for £22K I think they will pursue you.