New Capita-run Civil Service Pension Scheme - problems (what a surprise!)

JamesCoster

https://forums.moneysavingexpert.com/discussion/comment/82167771#Comment_82167771

`not all are correct'? Have they just decided to accept the quotes anyway, even if it means they lose out? I thought that once you've accepted the quote, that's it - you're stuck with it for life?

ShottsBA

https://forums.moneysavingexpert.com/discussion/comment/82167771#Comment_82167771

Did anyone get too much?

hugheskevi

https://forums.moneysavingexpert.com/discussion/comment/82167775#Comment_82167775

Member entitlement is set out in scheme regulations. The correct amount must be paid, regardless of what is accepted in a quote.

So if an error is later identified after a pension has been put into payment, the pension will at a minimum be adjusted to the correct amount going forward.

If the error caused an underpayment, arrears will be paid. If the error caused an overpayment then standard recovery procedures will be implemented (which isn't to say the money will always be recovered; it depends on the circumstances).

JamesCoster

Has anyone else had their quote indicating identical figures for both McCloud remedies?

JamesCoster

https://forums.moneysavingexpert.com/discussion/comment/82167886#Comment_82167886

Thanks @hugheskevi

horsewithnoname

https://forums.moneysavingexpert.com/discussion/comment/82167775#Comment_82167775

Once you have accepted the quote you cannot then withdraw your retirement - unless very good reasons exist, though what they accept as very good reasons I don’t know. But you can certainly still seek the correct amount.
Some have been told they have been overpaid, but as no calculation has been given, they are understandably seeking one before paying anything back. Shockingly mistakes are not unknown 😉 same with MyCsp mind you.

Capita are of course working new stuff to make the stays better, so if you are lucky you get it done reasonably quickly - if not correctly - but once older than their target, you may well be stuffed.

horsewithnoname

Some have received more than their quote, but obviously either or indeed both might be wrong

horsewithnoname

Yes, I think someone did. Maybe theoretically possible? But more likely to be plain old wrong!

ShottsBA

https://forums.moneysavingexpert.com/discussion/comment/82168408#Comment_82168408

I had a rough idea from the myCSP calculator and there wasn't a huge difference in the figures for each option. I'll notice if it's miles out. If it's more than expected I'll be taking it and they can prise any overpayment out of my cold dead hands... or my wife's whichever the case may be.

MayDogsandCoffee

I wanted to go in July and then in Oct but I am literally too scared to hand my 'resign with pension' in. Will I ever get pension payments - will they be correct????? I think everyone sitting waiting in post for this to sort out should put a grievance in. They claim they value us, but with this and the long wait for the pay rise I believe it shows downright contempt.