Pension Blunder

bazz13

My wife was due a small pension from a large company she worked for a while ago, she decided to take a lump sum payment and was told by letter that this would be paid into the bank account on the 24th March as this was their payroll payment date. On the strength of this we had some new windows fitted at our home (just completed). The pension company have today called us to say the payment will not now be made until their next payroll date in April. We are now in a situation owing the window people for their work with no cash to pay them. Would anyone know if we have any recourse against the pension people for this blunder.
We were also trying to receive this payment in this tax year as she is also due another small pension payout next August.

AnotherJoe

I'd guess you might be due £25 for inconvenience. Will the window company wait a month ?

Next issue, tax may be deducted wrongly and you'll have to reclaim it. Do you really have no spare cash at all? Can you borrow from a relative for a month or so ?

xylophone

Did you ask the company whether the payment can be arranged outside the normal payroll run?

dunstonh

This sounds like a scheme pension rather than a retail pension. Retail pensions pay out within days and dont have a fixed day in the month. Scheme pensions often only have one date in the month they issue payments.

bigfreddiel

Pay by credit card. That will only be due to be paid by the time you get the lump sum.

Lesson to be learnt, don't spend money till it's actually in your account.

Cheers fj

d70cw6

perhaps dont spend your phat epics before looting the raid boss?

bazz13

Many thanks for the replies folks,
AnotherJoe we have asked a relative and they will help, should not have been necessary though in my opinion.
xylophone, I have emailed the head of dept, but he will not be there until Tuesday, Easter hols. So will wait on his reply !!
dunstonh – I think it must be a scheme pension but does that make it ok for them to give us a date for payment and then change their minds ?
Bigfreddiel and d70cw6 – certainly is lesson learned.
phat epics before looting the raid boss? were you at Bletchley Park ?
Thanks again

saver861

bazz13 wrote: »

AnotherJoe we have asked a relative and they will help, should not have been necessary though in my opinion.

You can be brassed off that they did not meet the deadline but you can't connect that with payment for your windows.

If your windows were just finished today, don't you have some lead time to make final payment, e.g. 30 days?

Normally they would just give you an additional amount as 'lost interest'. You might have a case to claw back costs for the extra tax if it crosses the tax year, assuming the late payment was their fault of course.

As you have got the money from a relative then hopefully they will come up with the cash and your problem is solved. However, I would not pay it on credit card on the basis there is no guarantee there won't be a payroll problem in April - unless you can source the payment sometime before the credit card statement in the event of ongoing payroll problems.

PeacefulWaters

Pay on credit card anyway to get S75 protection.

AnotherJoe

bazz13 wrote: »

dunstonh – I think it must be a scheme pension but does that make it ok for them to give us a date for payment and then change their minds ?

I doubt they "changed their mind" it will just be corporate wheels turning slowly, might even be a deadline missed internally by a short time, say miss by a day and it rolls over to next months payroll.

brewerdave

PeacefulWaters wrote: »

Pay on credit card anyway to get S75 protection.

...don't know about anyone else, but when I had some windows replaced last year, the price I was quoted was on the basis of payment by debit card/cheque on the day of completion. Doubt whether they would have taken credit card !!!