How long have you waited for your pension?

Stonesmike

It’s nearly 6 weeks since I retired and not heard anything from my company or pension company.

I phoned the pension company last Friday and they informed that they have not had any notification from the Birmingham city payroll department and when the pension provider does receive, said correspondence it would possibly take another 3 weeks to send the information out to me.

my wife joked it could be Christmas, before I start receiving my actual pension, I think she could be correct in what she is saying!!

This is under the lgps.

Wentthedaywell?

I retired the first week of the month and got my pension on the usual payable date, the 30th, of the same month. Not Brum though!

Stonesmike

Slightly jealous, but pleased for you.👍

dunstonh

Did your office notify the payroll and pension administrator that you are retiring and that the final pay will be the last one?
Often when there are delays like this, it means they haven't received notification.

Stonesmike

dunstonh said:

Did your office notify the payroll and pension administrator that you are retiring and that the final pay will be the last one?
Often when there are delays like this, it means they haven't received notification.

Hi,
up to 2 weeks ago, no. I worked at a an independent college, but was still under the Birmingham council pay roll for some reason, at that time I contacted the personnel at my college and also the pension supplier.
you are correct in what you are saying.

RetSol

I hope you have better luck than I did but I applied for my preserved civil service pension on 6th August 2019 and it went into payment on 6th April 2020.  I received my first monthly payment in May.  There were a number of issues that needed to be resolved in my case but, long story short, If you have a db pension, it can take the administrators a long time to check your entitlement. I just had to keep chasing.  It was a saga. 

Stonesmike

Sorry to read that, thanks for the info.

GibbsRule_No3.

Because I had often heard these stories, I became pro active. Went part time, started taking one private pension, then decided as I was going to work longer (until State Pension kicked in originally) I would also take my second private pension. My SP is also now in payment and with COVID stopping me doing any of the trips I wanted to do when retired, I have stayed on at work, still getting a monthly income, while paying into a Stakeholder pension, as a savings plan. So I am hopeful that when I resign other than HMRC sorting tax and the Stakeholder pension lump going into my bank, everything will/should be smooth and if not at least the pensions are in payment to tide me over any hitch.
Good luck, hope it is sorted soon.

RetSol

Stonesmike said:

Sorry to read that, thanks for the info.

It ended well because it turned out that I was entitled to more pension than I thought.  However, in order to get that point, I had to escalate the issues in two civil service HR departments and in civil service pensions itself.  When I applied for the pension, I was completely naive about the shambles which awaited me.  If the delays persist, insist on knowing who is waiting for what and from whom.  

Silvertabby

Did you receive your 'options' letter before you retired?  That would have given you your pension choices (pension and automatic lump sum or bigger lump sum/smaller pension).  It would have also asked for copies of any birth/marriage certificates and for your bank details.  Once all that was done, it would just be a simple matter of pensions waiting for details of your actual leaving details, then paying your lump sum/ setting up your monthly pension.

However, if this never happened then I'm afraid that your wife is right - you will be lucky to be paid anything this side of Christmas.

Stonesmike

Silvertabby said:

Did you receive your 'options' letter before you retired?  That would have given you your pension choices (pension and automatic lump sum or bigger lump sum/smaller pension).  It would have also asked for copies of any birth/marriage certificates and for your bank details.  Once all that was done, it would just be a simple matter of pensions waiting for details of your actual leaving details, then paying your lump sum/ setting up your monthly pension.

However, if this never happened then I'm afraid that your wife is right - you will be lucky to be paid anything this side of Christmas.

I filled 2 forms in, one requesting birth/ marriage certificates and also bank details. I have not received the options letter, reckon that’s the one I am waiting for.
I did think things would be slower due to the current virus and did take that into consideration.