Pension miscalculation

dawn_vass

10 years ago I started recieving my work pension. Now I have been advised by my pension scheme that due to their pension miscalculation I have been over paid on both my pension and lumpsum. They have sent me a letter saying that they will have to recoup the overpayments and say they will take it from my pension over 60 payments unless I offer a suitable alternative.
Can they do this after 10 years, if so are there any alternatives ie lower repayments, longer period to repay.
Thanks

Loughton_Monkey

I think they can legally do it. Providing they have got it correct this time, then the overpayment was not your money.

However, if it were me, I would object in the strongest possible terms and resist it. Your 'defense' should be that over such a long period, you have obviously considered the payment to be correct, and have physically spent 'up to' the income and it's totally unreasonable for you to find the money over any period..... trying to adjust to live on the lower amount going forward is going to be hard enough......

Just keep resisting, and at an appropriate time (after several letters) try starting to talk about 'harrassment'.... causing worry and stress....

Ultimately, though, I think you might have to pay something, but I would try my best to get as much written off as possible.

kidmugsy

It took my wife's pension scheme four goes to get her pension/lump sum right. If right it be.

dunstonh

Legally, you are not entitled to money that does not belong to you. There are some exceptions but think of what you would be doing if it was the other way around and they owed you.

Typically, overpaying has to be paid back but over a reasonable period. Doing it over 5 years does seem fair. However, you may be able to negotiate a lower amount for immediate payment as they may prefer to get it sorted in one go.

As LM says, you may be able to string it out and you may be able to alter the repayment periods and amounts.