Poor Service from MyCSP

xylophone

Friday tomorrow, so wish me luck in my usual Friday phone call. Needless to say no one has phoned me yet after last weeks call to them.. Wonder how long I will have to wait this week?

See post 5- take the action suggested?

GibbsRule_No3

Knock me down with a feather, granted the money is not actually in my account yet but they have worked out, by hand!, what it should be and it should be with me next week. Watch this space.

Steve489

My first pension payment is due today but nothing has been paid yet. If no payment is cleared overnight, then some/all of the actions in my post 5 will be taken. I've still had no statement of the final benefits despite sending in the forms 4 months ago and never received the letter about the transfer from Capita. MyCSP did pay my lump sum & WPS refund on time.

xylophone

If no payment is cleared overnight, then some/all of the actions in my post 5 will be taken

A good idea - keep copies and send recorded delivery?

And see post 27

https://forums.moneysavingexpert.com/discussion/5074032

Steve489

I did receive a credit overnight. There is no reference to MyCSP or Civil Service Pensions but it must be my first month pro-rata pension payment since I'm not expecting a large credit from anyone else. However, the payment is much less than I was expecting to receive. I have still not received a statement of the final pension award including indexation or a monthly pension statement so it is impossible to verify how the monthly pension was calculated. I'll be calling the MyCSP case escalation manager again on Monday to find out how the payment was calculated.

lynneannoyed

Depressing reading ! I, like so many others have had to chase up my lump sum payment and they still owe me for a refund of family benefit ! Here goes another phone call ! Already made a formal complaint. I get no reply from my emails. What an appalling service. Obviously won't get my first pension payment later this month then ?!!

back_against_the_wall

Some good news. I had a totally unexpected telephone call from MyCSP this afternoon (actually, about 5.30 pm, when I would have thought they had all gone home). A very nice girl apologised for the delay in dealing with my refund. She had worked out all the figures and would send me a letter shortly for me "to have a little look at" with the details and my refund options. Apparently I can either take a lump sum or have part converted to an increase in my monthly pension. If I take the lump sum this will be taxable at 40%. She was very cagey about discussing actual figures. Definite progress then. Might just be a case of being patient with them while they get fully organised after taking on their additional workload. Anybody know why the lump sum would be taxable at 40%? This seems rather high. I am not even liable at basic rate on my monthly pension as this is well below my personal tax allowance.

xylophone

Anybody know why the lump sum would be taxable at 40%? This seems rather high. I am not even liable at basic rate on my monthly pension as this is well below my personal tax allowance.

http://www.civilservice.gov.uk/wp-content/uploads/2011/09/3_5_tcm6-1528.pdf

under Refunds 5.1 page 4 ?

Steve489

My payment at post 16 was correct since MyCSP paid me up to an earlier date than I requested for the first payment but didn't tell me.

All is now well with payments made on time in the end. However, MyCSP communications remains poor and I'm still waiting for the payment statements from MyCSP.

Re post 18 - I believe since you left the Civil Service a while ago, you may have to pay tax on the WPS refund. The new rules applied to me since I left a few months ago. I was definitely paid the WPS refund with the pension lump sum tax free.

back_against_the_wall

I am very grateful for the link by xylophone to the document
setting out the PCSPS family benefits repayment arrangements.
I have carefully gone through this complicated document and find
to my dismay that, had I retired slightly later, after 6 April 2006,
(I retired slightly before this for health reasons), then new rules apply.
Under these new rules it appears that my WPS refund would have been paid at the same time as my lump sum and both were tax free. But, because I retired just a few months earlier I come under the old rules
and, not only do I not get a refund of my WPS contributions until age 60, but then my refund is taxed in full at 40% unless I opt for an alternative where part of the refund is converted to an increase in my
monthly pension with a bit tax free in a paltry lump sum of much less than I was expecting. How unfair is this? That the refund I am entitled to should be taxed in full at 40%? Where do they get this from? The 40% rate band is for people on high incomes. I am a pensioner on a low income struggling to get by and I am not even liable at basic rate on my small pension. Why should I be charged at a ridiculously excessive tax rate on a refund I am entitled to?