Money Moral Dilemma: Should I keep my overpaid final salary?

MSE_Sarah

This week's MoneySaver who wants advice asks...

I left my job in July and when I got my final payslip it was double the usual amount, as HR wrongly seemed to think I had holiday owing. I contacted HR and they said they'd sort it, so I put the extra money into my savings account until then. It's now two months later and I still haven't heard anything. Should I contact them or keep quiet? 

Unfortunately the MSE team can't always answer money moral dilemma questions as contributions are often emailed in or suggested in person. They are intended to be a point of debate and discussed at face value. 

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JReacher1

You’ve already contacted them so at some point they’ll ask for the money back. 

This isn’t really a moral dilemma but more a matter of law as at some point they’ll very likely ask for this money back. 

Dox

Seems to be a recurrent 'dilemma'. Stick the money in a savings account and wait for them to contact you and ask for its return.

KatrinaWaves

God these ‘moral’ dilemmas are ridiculous. This is a legal not a moral issue. This isn’t ‘I earn less money than my friend and she wants an expensive hen do’ rubbish. There’s actual laws about this 🙄

elziebelzie

It has taken 5months for my old company to get in touch about over payment and still it was wrong, yesterday I had an email about repaying the correct amount.  I contacted the company 3 times, but some hand it to an outside firm too.  I too put it aside as knew they would want it at somepoint

keithyno.1

With this situation, I take the view that if an organisation (your ex-employer) is so inept with something as basic as management of its monthly pay roll, then it’s tough for them. Especially as you’ve contacted them to highlight the problem and they’ve done nothing about it. Of course, there is a chance that eventually they’ll uncover their mistake and ask for it back. On the other hand, there’s every chance they won’t - it will have simply been entered in their ledgers as a payment in lieu of holiday leave owing, and any audit done in the future is highly unlikely to flag it up as a discrepancy. It sounds like they just don’t care anyway.

So my advice is, leave it in your savings account and do nothing more - you’ve already done what any individual could be expected to do, by contacting them about it. And then, if you’ve not heard from them in 3 years time go out and treat yourself with it.

And for anyone on here who starts bleating about it not being your money, you’re effectively stealing it blah blah - don’t be so sanctimonious!

MovingForwards

They have 6 years to recover the money from you, with or without court proceedings.

SarahLouise97

This happened to me and 8 months later the company reclaimed their money. I had to set up a direct debit to repay in full. Isn’t worth keeping it! Good idea keeping it in a savings account until they do ask for it back

Dakta

"<diatribe>... don’t be so sanctimonious!"

I thought you were going to say 'morally minded'  for a moment! 

Eileenpamela

Don’t forget the money you were overpaid was net of tax and NI. So if they claimed it back you would need to ensure it was calculated correctly as their maths is not impressive. Good luck, but save the money “just in case”.

Thrugelmir

Nothing moral in the question. Expect the company to seek repayment, with the full backing of the law if necessary.