Nestle pension - not paid May 2025

JohnAndrew

I'm a Nestle pensioner and find that my pension for May 2025, due to be paid in on Thursday 29th May, was not paid in. When I've contacted them they say that the fault is with HSBC that didn't transfer the money. My question is - do I have any rights to compensation from HSBC? I've had to shuffle money around to cover direct debits coming out of the pension account. The money is not paid yet (31st May) and has been promised by 3rd June.

QrizB

Is HSBC your bank, or Nestle's?

What losses have you incurred?

Marcon

JohnAndrew said:

I'm a Nestle pensioner and find that my pension for May 2025, due to be paid in on Thursday 29th May, was not paid in. When I've contacted them they say that the fault is with HSBC that didn't transfer the money. My question is - do I have any rights to compensation from HSBC? I've had to shuffle money around to cover direct debits coming out of the pension account. The money is not paid yet (31st May) and has been promised by 3rd June.

Not unless you've suffered actual financial loss - and from the sound of it, that's not the case. 

Might make sense to look at moving your direct debits to slightly later in the month, to ensure that there's no repetition of the hassle/anxiety factor.

JohnAndrew

no financial loss so far - just the hassle of moving money around. HSBC is the bank that Nestle use to pay pensioners from. Fingers crossed the payment will go in on Tuesday and all will be well...

flaneurs_lobster

I've got 5 private pensions paying me monthly (and a sixth that's quarterly). It's a rare month when at least one of them doesn't miss its expected payment date by a day or so (putting aside w/ends). 

Never caused me anything other than insignificant loss of a couple of day's interest - no financial loss so no grounds for compensation.

ali_bear

Marcon said:

Might make sense to look at moving your direct debits to slightly later in the month, to ensure that there's no repetition of the hassle/anxiety factor.

Or keep a sufficient cash buffer so this sort of thing doesn't push you into the red. 

Hoenir

JohnAndrew said:

The money is not paid yet (31st May) and has been promised by 3rd June.

The 31st was a Saturday a non bank working day.  The actual delay will amount to 3 working days. Sounds like an issue with the BACS run to make the monthly pension scheme payments.