Post by keitha on Jun 12, 2023 17:33:44 GMT
don't compound it ...
I had a letter last month saying my pension was due to increase from the first of April, and this is how much it will be....
It then went on to say the new payment amount would be made together with arrears in the 1st of June payment.
on 1st of June the payment was exactly the same as April and May, and I guessed that the payroll hadn't been able to be updated in time.
So I thought to myself oh well that's a bigger payment in July.
Last week my balance suddenly increased on my bank account
I look and it's a pension payment, but it is the full amount with no tax deducted.
Now I know that that was a mistake, I also know that this means the July payment will be tiny it wont be 1/3 of what hit my account this week it will be 20% of 1/3, because the tax on the April, May and June payments will be deducted,together with the 20% for July.
But I can foresee the payroll team being inundated with calls
IMHO it would have been better not to make the ad hoc payment but to do it all in July
I had a letter last month saying my pension was due to increase from the first of April, and this is how much it will be....
It then went on to say the new payment amount would be made together with arrears in the 1st of June payment.
on 1st of June the payment was exactly the same as April and May, and I guessed that the payroll hadn't been able to be updated in time.
So I thought to myself oh well that's a bigger payment in July.
Last week my balance suddenly increased on my bank account
I look and it's a pension payment, but it is the full amount with no tax deducted.
Now I know that that was a mistake, I also know that this means the July payment will be tiny it wont be 1/3 of what hit my account this week it will be 20% of 1/3, because the tax on the April, May and June payments will be deducted,together with the 20% for July.
But I can foresee the payroll team being inundated with calls
IMHO it would have been better not to make the ad hoc payment but to do it all in July