LGPS Strathclyde Pension Fund - should I expect communication?

Silvertabby

chalkybar said:

just out of interest, if they delay/miss pay dates through none of your fault are they liable for interest to be paid to you?

We used to pay interest on the lump sum if that was paid more than a month late.  But it was nothing to get excited about, and we had to tell the recipient that they had to declare it to HMRC as we were unable to deduct any tax due.  Yes, I know the lump sum is tax free - but that doesn't extend to any interest for late payment.  

hyubh

chalkybar said:

just out of interest, if they delay/miss pay dates through none of your fault are they liable for interest to be paid to you?

Who's fault doesn't come into it: https://www.legislation.gov.uk/ssi/2018/141/regulation/76

chalkybar

Just wondering if you’ve had any progress with your drawing requests. I’m in a similar situation. Have an old DB that I’ve requested to start drawing pension. I first advised them of my intentions in mid Sept, by email. All I had from them was an automated reply email from their admin saying “thanks for your request, this will be forwarded to the appropriate team”. Followed by the arbitrary that this process can take 3-4 weeks, but at busy times could be extended to several weeks. That was it….nada for ages. Two emails follow-up with the same robotic reply, and now nearly three months further down the line I decided to phone. Admin team although very polite were absolutely no help, just confirmed that I was in process, and reiterated what the automated email said.
i maybe doing them a disservice but why does it take this long, three months+ to receive the latest figures and have the necessary forms sent that I need to fill in etc…..surely, unless it’s a particularly complicated case, all this is driven by the existing data and software criteria etc to update the figures from the previous end of years statement? Do they have teams of poor finance clerks chained to the desk with steam driven calculators manually crunching figures with their frayed and bruised fingers 😬

Silvertabby

chalkybar said:

Just wondering if you’ve had any progress with your drawing requests. I’m in a similar situation. Have an old DB that I’ve requested to start drawing pension. I first advised them of my intentions in mid Sept, by email. All I had from them was an automated reply email from their admin saying “thanks for your request, this will be forwarded to the appropriate team”. Followed by the arbitrary that this process can take 3-4 weeks, but at busy times could be extended to several weeks. That was it….nada for ages. Two emails follow-up with the same robotic reply, and now nearly three months further down the line I decided to phone. Admin team although very polite were absolutely no help, just confirmed that I was in process, and reiterated what the automated email said.
i maybe doing them a disservice but why does it take this long, three months+ to receive the latest figures and have the necessary forms sent that I need to fill in etc…..surely, unless it’s a particularly complicated case, all this is driven by the existing data and software criteria etc to update the figures from the previous end of years statement? Do they have teams of poor finance clerks chained to the desk with steam driven calculators manually crunching figures with their frayed and bruised fingers 😬

When did you leave?  If McCloud affects you, then likely that they will do that calculation before sending out your figures.  And, yes, that does include manually crunching figures.

If you left before McCloud, then they will still be swamped with these calculations for other people, and so working through huge backlogs.  That said, those of you waiting for benefits to be brought into payment should be prioritised over those already receiving payment, but just waiting for a possible increase.

P.S.  LGPS pensioners who left with full underpin protections are unlikely to gain much in the way of increases die to McCloud.  If any.  But the records still have to be checked.

I'm just glad I retired before all this kicked off!

chalkybar

Sorry, I’m not actually part of LGPS, but was searching for information about timescales for drawing a DB pension and happened upon your posting which seemed to echo my situation. It is a pension from a very large manufacturing company that I left 25 years ago, but I’m active on their portal so all my info is up to date.

Silvertabby

chalkybar said:

Sorry, I’m not actually part of LGPS, but was searching for information about timescales for drawing a DB pension and happened upon your posting which seemed to echo my situation. It is a pension from a very large manufacturing company that I left 25 years ago, but I’m active on their portal so all my info is up to date.

In that case, you'll just have to keep chasing them.

Can you post the scheme name - just in case anyone on here is aware of anything going on with them?

hyubh

chalkybar said:

Sorry, I’m not actually part of LGPS, but was searching for information about timescales for drawing a DB pension and happened upon your posting which seemed to echo my situation. It is a pension from a very large manufacturing company that I left 25 years ago, but I’m active on their portal so all my info is up to date.

I would then suggest forgetting about any answer you've received on this thread and starting your own...

BridgetTheCat

Welp, I got confirmation yesterday that they will pay out as requested. Still no ID required!