Company paid my pension twice

Ksewil

Hi,

1st post on here so hope you guys can help!

I recently left my job at a bank after just shy of 2 years, I was in the company pension and they matched my contribution monthly. When I left I had a letter saying I could cash the pension in but as i had left within 2 years ( the matter of days less) I would lose their contribution or I could keep the pension or I could transfer it. I needed the money so decided to cash it in and it wasn't a large sum.

I got paid the money and then the following month they paid me almost the same amount, clearly paid me twice in error. I have now had a letter saying due to an admin error they paid me twice please send a cheque or bacs payment of the overpaid amount back. My question is do I have to return this money? If I do does it all have to be in one go or do I have the right to say I will pay it back on a plan? The amount of extra work I put in there with no thanks (or overtime) and the fact it was literally days less than 2 years when I left makes me feel no moral obligation what so ever to return the money unless legally I have to. Any help and advice much appreciated folks

Tiglath

Of course you need to return it - you know it's not yours, and you'll be opening up a world of pain for yourself legally if you don't comply. When I left one job, they'd overpaid me for accrued holiday time, and I paid it back. You may be able to negotiate paying it back in instalments, depending on how large the total amount is.

DancingBadger

Ksewil wrote: »

The amount of extra work I put in there with no thanks (or overtime) and the fact it was literally days less than 2 years when I left makes me feel no moral obligation what so ever to return the money unless legally I have to. Any help and advice much appreciated folks

Reverse the situation: if you inadvertently paid a bill twice you'd be shouting from the rooftops for the overpayment to be returned to you - yet you're clearly aggrieved your former employers want their money back.

You clearly knew the second payment didn't belong to you, but have obviously spent it. In these circumstances, employers will often allow the money to be repaid in instalments, so you may be lucky.

So, yes, of course you're obliged to return the money - both legally and morally.

kidmugsy

Ksewil wrote: »

PATHETIC, CHILDISH EXCUSES makes me feel no moral obligation what so ever to return the money

Then you are a crook. Why bother to seek our approval?

Ksewil

I suspected that I would and no I haven't spent the money because I thought this might happen so made allowance for the fact. I would just rather pay back in instalments as the interest is better in my pockets! Very true if it was the other way round I probably would be, but at the same time when I started their after putting my notice in at a previous job after been given a confirmed start date they then put this forward 3 weeks meaning I ended up losing 3 weeks pay and got nothing back, this would have about repaid me for that which is why I wouldn't feel wrong in keeping it if I could. I'll ring them Tuesday and see what they say. And as for the morals believe me a couple of things I know after working there would make people truly disgusted and rightly so but not for me to say what they are. Thanks for the help

dunstonh

My question is do I have to return this money?

A mistake does not give you legal entitlement. An honest person would have told the bank straight away. Dishonesty does not get rewarded.

If I do does it all have to be in one go or do I have the right to say I will pay it back on a plan?

If you can show you cannot afford to repay it in one go, then they should agree a repayment plan. Typically over 12 months.

The amount of extra work I put in there with no thanks (or overtime) and the fact it was literally days less than 2 years when I left makes me feel no moral obligation what so ever to return the money unless legally I have to.

Keeping money you are not legally entitled to knowing a mistake was made gives you no moral high ground.

Ksewil

kidmugsy wrote: »

Then you are a crook. Why bother to seek our approval

I wasn't seeking anyone's approval, couldn't give a toss what you think you jumped up little !!!!!, I just wanted to know the facts. And have I at any point said I'm not giving the money back? If I didn't have to might not of but if I have to then so be it i will so no I'm not a crook

eastofeden

Might not HAVE not might not of. A particular pet hate of mine. Why on earth would you think you might be able to keep money that is clearly not yours? On the basis of alleged poor treatment? Come on, grow up!

srcandas

Why are people so lacking in understanding and unable to be helpful ???

The OP felt agrieved at previous treatment and then the very people he feels have been unjust send him what appears to be free money. God moves in mysterious ways???

So deep down he knows as he freely admits that he needs to return it but he felt he had to ask. And when given sound advice he accepts it.

From that the high and mighty righteous pour forth.

And to what end? To prove that they are beyond reproach in all things?

I believe sometimes it is better to give guidance as most did here (in the spirit of this place), and let people move on hopefully better informed.

Of course if I'm wrong and others are convinced that rubbing noses in it is a productive way forward please carry on.

For what it is worth OP I thought after your initial miss guided request you took sound advice in good spirit despite being upset by a former lesser wrong. Well done. If more people could move on as you have then perhaps the world would be a better place :beer:

jonesMUFCforever

Sorry I DISAGREE - OP left knowing it would be just under 2 years employment - so normal pension rules apply.
He had the money so why not refund it quietly rather than come on here and ask if he legally needs to pay it back or try it on with a repayment plan?

Dunnit

Firstly the guy is a newbie and he has been given an avatar to reflect this.

The way the OP has written suggests he did not understand he was missing out on his pension by a matter of days.

There are a number of threads on MSE with regard to people transposing account numbers when transferring money and struggling to get their money back.

He was only asking for the "legal" opinion so that he can square up to his ex-employer when re-paying.