If a pension scheme makes a mistake, you don’t usually have a right to the figures given to you in error. The basic principle is that you’re entitled to your correct benefits, and not to figures quoted by mistake.
If a pension scheme provider realises they’ve made a mistake in the amount of pension they’ve been paying you, the trustees have a duty to correct this.
This means that if they’ve been paying you too much they can reduce your future payment to the correct amount and ask for the overpayments to be returned.
- Mistakes are correctable.
- The sooner you identify a mistake and let the pension scheme know, the more options you’ll generally have to fix the mistake.
- Overpayments can be recovered, but the amount to be repaid can be limited.
- Compensation might be payable if you’ve suffered a financial loss or have suffered distress and inconvenience.
- We can explain your situation and support you with any next steps this might include, such as recommending that you contact the Pensions Ombudsman.