When do I get my lump sum

xylophone

Does your MP have a local surgery?

Muscle750

Us in the private sector don't have such problems to worry about we will just continue to pay for the over inflated public sector pensions

orangeanorak

xylophone wrote: »

Does your MP have a local surgery?

Will wait to see if pension comes through on 23rd and if not I'll take this forward to MP

Tromking

Muscle750 wrote: »

Us in the private sector don't have such problems to worry about we will just continue to pay for the over inflated public sector pensions

So private sector pensions are never prone to late payment?
Unless of course you were just intent on shoe-horning a whinge about the cost of public sector pensions into this thread.

orangeanorak

Monthly pension came through yesterday :-) however lump sum still somewhere in the ether :-(

PensionTech

I had intended to use my lump sum towards and investment opportunity that I have now missed.

This is concerning. I am not sure what kind of investment opportunity you may be referring to, but if you have suffered financial loss because of their failure to pay on time then I think you should consider asking for compensation. A month after retirement is far too long to pay out a lump sum, particularly if you had provided all paperwork a month in advance and particularly if they've managed to pay the pension already, which usually takes more time to sort out.

It depends on how strongly you feel about it, and of course whether there are any other circumstances that you haven't told us about, but on the face of it, it sounds to me like you have a good case if you want to complain. You can complain formally via the scheme's IDRP and if you aren't satisfied with the result of that, you can go to the Pensions Ombudsman; part of my job involves reading hundreds of Ombudsman decisions and I think your case is the kind that the PO would have sympathy with.

Just my opinion!

orangeanorak

Thank you for your reply - I had intended to be part of a syndicate to buy an item at Sothebys auction. No purchase was made so I have not lost any money but did lose the opportunity to make a profit on an item that would increase in value over time. I know there is never 100% guarantee of this. Because I had to pull out the day before the auction my coinvestors did not have enough funds to buy the item.

Generali

orangeanorak wrote: »

I retired from Civil Service on Friday 24th October this year. I have not yet had my lump sum paid to me.
I contacted myCSP two days ago who told me all 'appeared' to be in order and that there had been activity by the 'robots' on my account. The person I spoke to was unable to give me a date as to when my lump sum would be in my bank. All he could do was 'escalate this to the next level' and I was promised a phone call to confirm. Two days have passed - no lump sum - no phone calls.

Grateful if someone can confirm how long it NORMALLY takes for a Civil Service lump sum to be paid. I would have thought shorter than this as they had four months notice and acknowledged paperwork had been received from me.

Thank you for your help

I'm very sorry you haven't had your cash.

At the same time, perhaps you finally understand how us mere mortals, who pay for the Government, feel every single time that we interact with the Government.

Just sayin'

PensionTech

I have not lost any money but did lose the opportunity to make a profit on an item that would increase in value over time. I know there is never 100% guarantee of this. Because I had to pull out the day before the auction my coinvestors did not have enough funds to buy the item.

By loss I mean potential loss as well. Don't downplay opportunity loss. I have seen the PO find in favour of a woman who claimed compensation because being underpaid her pension for a few years meant that she had to quit her tennis club membership thus impairing her quality of life. This is despite the fact that the scheme had already made good all of the underpayments plus a very substantial amount of interest.

Again, it depends how strongly you feel about it and I'm not trying to stir up trouble for my fellow pensions professionals - but it sounds as though this is more than a mere inconvenience for you (and your coinvestors), and if it were me I think I would be unhappy enough to make a complaint. It may at the very least scare them into action.

orangeanorak

PensionTech wrote: »

By loss I mean potential loss as well. Don't downplay opportunity loss. I have seen the PO find in favour of a woman who claimed compensation because being underpaid her pension for a few years meant that she had to quit her tennis club membership thus impairing her quality of life. This is despite the fact that the scheme had already made good all of the underpayments plus a very substantial amount of interest.

Again, it depends how strongly you feel about it and I'm not trying to stir up trouble for my fellow pensions professionals - but it sounds as though this is more than a mere inconvenience for you (and your coinvestors), and if it were me I think I would be unhappy enough to make a complaint. It may at the very least scare them into action.

Thank you - Do I send my complaint to MyCSP? - is there a form? (Sorry I'm still in Civil Service mode :-) )