Pension shortfall figure needed

Mayaboo

😰 dwp told me they could only give me the figures  over the phone, not in writing .
I rand back to hmrc and had someone not so helpful who told me dwp can give that information in writing . 

My brain hurts😔 I've got my sister with me and she's hearing the conversations and knows what I'm being told. 

Mayaboo

dwp said it would be better not to pay the highest figure . I now don't know who or what to believe . She did say they were the 5 cheapest shortfalls, the system picks them out.

Pat38493

In the previous post you said that they had already given you the 18 digit reference number to make the appropriate payments?  Are you saying that you don't believe what they are telling you?

As far as I know, normally DWP will agree with you which years it is best to pay back and the total amount you should pay, and then HMRC give you an 18 digit number - you just need to then pay the agreed amount with quoting that 18 digit number.  After that there will be a (long) delay before that actually shows up in your records.

Mayaboo

Dwp just said to me when I:asked if they could send it in writing" no, I'll tell you why, cos it's hmrc figures that they set. We're not allowed to put the cost of the years in our letters. The forecast will tell you what you've got and how many more years you need".
I need this in writing. 

pinnks

DWP will tell you which years will improve your pension but it is HMRC who will give you the definitive cost for each of those years and tell you how to pay. 

So, DWP should be prepared to put in writing that 2016/17 or 2020/21 or whatever would improve your pension, while 2015/16 or whatever would not but then you need to ask HMRC to put in writing what each of those will cost. 

The latter is quite simple because every year currently costs £824.20, apart from 2020/21 at £795.60 and 2021/22 at £800.80.  Those prices stay the same until 31 July, after which all but 2021/22 and 2022/23 increase to £907.40

Mayaboo

Pat38493 said:

In the previous post you said that they had already given you the 18 digit reference number to make the appropriate payments?  Are you saying that you don't believe what they are telling you?

As far as I know, normally DWP will agree with you which years it is best to pay back and the total amount you should pay, and then HMRC give you an 18 digit number - you just need to then pay the agreed amount with quoting that 18 digit number.  After that there will be a (long) delay before that actually shows up in your records.

I believe the adviser thought I'd been transferred to her by  the dwp  to make the payment there and then. She gave me the reference number, but I've since been told elsewhere that if I didn't pay the five years she's got me down as, I'd have to let hmrc know first.
As I said, she also insisted I hadn't been transferred to her by HMRC.. 

Mayaboo

pinnks said:

DWP will tell you which years will improve your pension but it is HMRC who will give you the definitive cost for each of those years and tell you how to pay. 

So, DWP should be prepared to put in writing that 2016/17 or 2020/21 or whatever would improve your pension, while 2015/16 or whatever would not but then you need to ask HMRC to put in writing what each of those will cost. 

The latter is quite simple because every year currently costs £824.20, apart from 2020/21 at £795.60 and 2021/22 at £800.80.  Those prices stay the same until 31 July, after which all but 2021/22 and 2022/23 increase to £907.40

dwp were in a hurry to get me to pay. They gave me a reference which apparently they noted me as intending to pay  5 years, but hmrc wanted her to transfer me back to them to discuss further but she wouldn't. Hmrc wanted to speak to me further because I was deciding over paying 4 or 5 years.

Mayaboo

Hmrc the second time contradicted themselves. 

At first they said yes dwp did just give it over the phone, but later said the pension forecast would contain a table by post with those figures on.I never received a table with my pension forecast 

xylophone

What information exactly was provided over the phone by DWP concerning years to pay and amount for each?

pinnks

I feel for you.  I assume DWP told you which years you can pay and how much that would add to your pension.  Based on this thread, it sounds as though 4 years would get you close to the max and paying the 5th year is probably not worth it.  Is that correct?
 
If so, and if you are content, then you need only call HMRC, tell them that you have spoken with DWP, that you want to pay years X, Y and Z, ask for the total price and check with them that you can use the 18-digit reference you have already received.  Then you can pay.  Or have I missed something?