DOB on Prudential LGPS Pension and AVC incorrect by 10 years

UniqeNewYork

I recently discovered when trying to log in to my Prudential LGPS Pension and AVC that my HR department gave them my DOB ??/??/1991 instead of ??/??/1981.

Does this mean, if this isn't rectified by my employer and I stay working with them I will be able to access my Pension and AVC 10 years early or will there be additional ID checks at that stage?

I'm aware of the potential fraud risk and moral issues before anyone points these out. There is currenrly no record that I've noticed this error. 

Marcon

UniqeNewYork said:

I recently discovered when trying to log in to my Prudential LGPS Pension and AVC that my HR department gave them my DOB ??/??/1991 instead of ??/??/1981.

Does this mean, if this isn't rectified by my employer and I stay working with them I will be able to access my Pension and AVC 10 years early or will there be additional ID checks at that stage?

I'm aware of the potential fraud risk and moral issues before anyone points these out. There is currenrly no record that I've noticed this error. 

There will be checks. Best to correct it now to avoid delays in future.

UniqeNewYork

I've also just twigged that this actually means they think I'm 10 years younger than I am not older so it would DELAY my pension!!! Maths not my strong point

Marcon

UniqeNewYork said:

I've also just twigged that this actually means they think I'm 10 years younger than I am not older so it would DELAY my pension!!! Maths not my strong point

I didn't like to add that, tempted as I was!

dunstonh

Does this mean, if this isn't rectified by my employer and I stay working with them I will be able to access my Pension and AVC 10 years early or will there be additional ID checks at that stage?

HMRC know your date of birth.  So, you would need their record to be wrong as well. Otherwise they would will hit you for an unauthorised payment (working on your original assumption and not the corrected position)

I'm aware of the potential fraud risk and moral issues before anyone points these out. There is currenrly no record that I've noticed this error. 

When the pension was opened, the date of birth would have been on the documentation that they asked you to check.

Silvertabby

If your LGPS hasn't already done so, they will ask for a copy of your birth certificate at least at retirement.

But your age determines other factors, so best to correct any errors now.  Possible that your HR only fat-fingered your date of birth on your AVC contract, but check with them - and your LGPS - that they have your correct DOB on record.  And get your HR to correct their AVC error.

Aylesbury_Duck

Should be straightforward to correct, and there may be no consequences.  One thing to check is whether your AVC has been invested in a lifestyle-type fund where its risk level is attached to a particular retirement age.  With the current age 10 years too young you may be invested slightly more aggressively than were the correct DOB used.  That's no bad thing given how markets have performed in the last several years, if you've been contributing that long!