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Are you getting the correct pension payout?
Old 10-12-2015, 09:46 AM   #1
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Are you getting the correct pension payout?

If you are getting a pension, make sure you're getting the right amount. If you're getting paid more than you're supposed to and they find out years later, you could owe the excess plus interest.
I was overpaid by my pension. Now I owe $67,000 - Oct. 12, 2015
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Old 10-12-2015, 10:32 AM   #2
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Yes, first I figured out exactly what my pension should be, using my very complete collection of pay stubs/records over my career there.

Then before I retired, I checked with personnel and they independently came up with the same amount to the penny.

That was what I got.

In case anyone is wondering why I kept such a complete collection of pay stubs/records in my own files for so many years, it was for exactly this reason. I wanted to make SURE that I was getting exactly what I was due, no more and no less.
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Old 10-12-2015, 11:13 AM   #3
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I would think any payments made beyond the applicable statute of limitations is uncollectable. I don't think any SOL is more than 3 years, so that might be the max these unfortunate people might be on the hook for.
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Old 10-12-2015, 11:18 AM   #4
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A relative of mine had excess pension payments clawed back from her estate.
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Old 10-12-2015, 11:22 AM   #5
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My company uses Fidelity to manage our pensions.

The Fidelity calculator tells me how much my pension will be for various different scenarios.

I have no way of knowing if it is right or not, but I do know that the calculator has reporting the same payout for the last 5 years. (our pensions were frozen when my company was bought out.)
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Old 10-12-2015, 12:15 PM   #6
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Originally Posted by Meadbh View Post
A relative of mine had excess pension payments clawed back from her estate.
So by the same logic, you should be able to reclaim all the extra taxes that were paid by her over the years for the 'borrowed' pension payment.
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Old 10-12-2015, 01:13 PM   #7
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So by the same logic, you should be able to reclaim all the extra taxes that were paid by her over the years for the 'borrowed' pension payment.
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