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  • FIRST POST
    • Terron
    • By Terron 15th May 19, 6:00 PM
    • 430Posts
    • 425Thanks
    Terron
    Proving salary from 25 years ago
    • #1
    • 15th May 19, 6:00 PM
    Proving salary from 25 years ago 15th May 19 at 6:00 PM
    I am applying for one of my pensions - the FS one. The pensionable salary they gave seemed a bit low to me and I queried it. The difference was partly in the method of calculation, but also they have my final salary (from 1994) as 25,000 but I am sure it was 26,000.
    Before I start hunting though boxes to see if I have kept anything proving that, is there any easy way to do it?
Page 1
    • AnotherJoe
    • By AnotherJoe 15th May 19, 6:43 PM
    • 14,222 Posts
    • 16,927 Thanks
    AnotherJoe
    • #2
    • 15th May 19, 6:43 PM
    • #2
    • 15th May 19, 6:43 PM
    I wonder how far back tax records go ?
    Please dont criticise my spelling. It's excellent. Its my typing that's bad.
    • Shimrod
    • By Shimrod 15th May 19, 6:50 PM
    • 999 Posts
    • 549 Thanks
    Shimrod
    • #3
    • 15th May 19, 6:50 PM
    • #3
    • 15th May 19, 6:50 PM
    I am applying for one of my pensions - the FS one. The pensionable salary they gave seemed a bit low to me and I queried it. The difference was partly in the method of calculation, but also they have my final salary (from 1994) as 25,000 but I am sure it was 26,000.
    Before I start hunting though boxes to see if I have kept anything proving that, is there any easy way to do it?
    Originally posted by Terron

    Could it be the definition of final salary? My scheme has the final salary as at April 1st. So a pay rise in May of that year would not reflect as the final salary for calculation until the following April.
    • davidwatts
    • By davidwatts 15th May 19, 7:00 PM
    • 213 Posts
    • 157 Thanks
    davidwatts
    • #4
    • 15th May 19, 7:00 PM
    • #4
    • 15th May 19, 7:00 PM
    Could it be the definition of final salary?
    Originally posted by Shimrod
    That will be absolutely key to any query. I'm aware of a scheme where it was the average for the final 52 weeks worked. It could be more elaborate than that for some old schemes!
    • Terron
    • By Terron 15th May 19, 8:18 PM
    • 430 Posts
    • 425 Thanks
    Terron
    • #5
    • 15th May 19, 8:18 PM
    • #5
    • 15th May 19, 8:18 PM
    That will be absolutely key to any query. I'm aware of a scheme where it was the average for the final 52 weeks worked. It could be more elaborate than that for some old schemes!
    Originally posted by davidwatts

    It is the highest amount earned in a year minus the state pension. I had a big pay rise in my last year - after getting promoted during a pay freeze. So it is definitely the last 12 months that count.

    So part of the difference is that the actual final salary wasn't for a full year - and I understand that now.



    My job was then sold to a competitor. They offered me less but I insisted on getting the same and got it.
    • Dox
    • By Dox 15th May 19, 10:34 PM
    • 1,360 Posts
    • 1,019 Thanks
    Dox
    • #6
    • 15th May 19, 10:34 PM
    • #6
    • 15th May 19, 10:34 PM
    Before I start hunting though boxes to see if I have kept anything proving that, is there any easy way to do it?
    Originally posted by Terron
    Sadly not - and the onus will be on you to prove it is wrong. You will have received a leaving service benefit statement which will invariably have included words to the effect 'let us know if anything is wrong'. The pension scheme administrators will (correctly) rely on this, unless you can show otherwise.

    It may be galling to believe/be certain the amount is wrong, but before getting too steamed up about anything, remember that a pensionable salary difference of less than 1,000 won't make a massive difference to the amount of pension you are due, especially if you had relatively short service with this employer (and given it was 25 years ago and you've not yet reached the scheme's retirement age, I suspect that assumption may not be too wide of the mark).
    • JezR
    • By JezR 16th May 19, 11:35 AM
    • 1,580 Posts
    • 1,122 Thanks
    JezR
    • #7
    • 16th May 19, 11:35 AM
    • #7
    • 16th May 19, 11:35 AM
    Depending on the scheme conditions, the pensionable salary might not be equal to 100% of the final salary but a percentage of it. One of mine for example was 92.5%.
    • Seabee42
    • By Seabee42 16th May 19, 12:44 PM
    • 383 Posts
    • 227 Thanks
    Seabee42
    • #8
    • 16th May 19, 12:44 PM
    • #8
    • 16th May 19, 12:44 PM
    Very few schemes actually just use the last salary you are on (average of the last twelve months is common). If you are certain it is a mistake however you will have to prove it with for example a payslip showing the higher salary and preferably the pension deduction based on that salary.
    • Marcon
    • By Marcon 16th May 19, 3:28 PM
    • 955 Posts
    • 733 Thanks
    Marcon
    • #9
    • 16th May 19, 3:28 PM
    • #9
    • 16th May 19, 3:28 PM
    Depending on the scheme conditions, the pensionable salary might not be equal to 100% of the final salary but a percentage of it. One of mine for example was 92.5%.
    Originally posted by JezR
    See post 5 above - OP has already confirmed the relevant definition.
    • JezR
    • By JezR 16th May 19, 6:48 PM
    • 1,580 Posts
    • 1,122 Thanks
    JezR
    Only mentioned just in case there was an obscure clause somewhere not previously realised about - and of course it could possibly help someone else in the future with an apparent discrepancy too. These reduction figures often turn up in schemes that have been adapted in the course of operation to shoehorn in spouses' pensions.
    Last edited by JezR; 16-05-2019 at 6:54 PM.
    • Terron
    • By Terron 16th May 19, 9:12 PM
    • 430 Posts
    • 425 Thanks
    Terron
    It may be galling to believe/be certain the amount is wrong, but before getting too steamed up about anything, remember that a pensionable salary difference of less than 1,000 won't make a massive difference to the amount of pension you are due, especially if you had relatively short service with this employer (and given it was 25 years ago and you've not yet reached the scheme's retirement age, I suspect that assumption may not be too wide of the mark).
    Originally posted by Dox

    I am not "steamed up" about it. 1000 * 5.5 years of service * (1/60) * (7/12 of a year at the higher salary) *.75 =~40 per year is not worth it, especially as it is not indexed linked. Though the boost to the TFLS would be nice.
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