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Lump Sum and Pension date.
- Thread starter sumpy001
- Start date
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I left 10 Nov 2020, pension kicked in at the end of that month, lump sum arrived just after Xmas.
Tks
Left 6 Nov 20, lump sum 2 Dec, Pension 14 Dec
Tks - looks like circa 4 weeks for the LS to drop then.
Captain Kirk
Corporal
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It'll be 4 weeks for me on Tuesday, and they reckon up to 30 WORKING days is their maximum. No idea when my pension will drop either. All a bit bland really, with zero interaction on such a big financial change.
The bit that gets me is that after 4 weeks I still have no P45 so every penny I'm earning is taxed at 40%; a saving policy if my glass is half full! I've been told it is quite likely a PSF error as my final Unit is going into some sort of central PSF thing.
On this does anyone know how to get a replacement P45? Whilst I'm quite humorous about RAF HR it will start to become an issue by the end of the COVID travel restrictions.
The bit that gets me is that after 4 weeks I still have no P45 so every penny I'm earning is taxed at 40%; a saving policy if my glass is half full! I've been told it is quite likely a PSF error as my final Unit is going into some sort of central PSF thing.
On this does anyone know how to get a replacement P45? Whilst I'm quite humorous about RAF HR it will start to become an issue by the end of the COVID travel restrictions.
My milestone markers: lump sum paid at the end of Apr (payment appeared on a payslip after the remainder of my pay appeared on JPA) that was approx 25 calendar days after leaving. Weirdly (again, no warning, a part pension payment hit my account 30 days...ish after leaving. At approx day 32 after leaving a letter from equiniti paymaster arrived explaining my pension entitlements and payment cycle. 33 days after leaving the P45 arrived in the post. Having discussed leaving the Service with other ex regulars, I noted that we had all experienced slight variations on the timelines related to payments/letters arriving. Hang on in there!
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According to Johnny Mercer being 'Interviewed' by 'Alfie' from Fill Your Boots the other night, the Pension folk are still pretty much yet to go digital due to a serious lack of investment in that area for many years. That said he gave them nothing but praise for doing such a difficult task with basically **** all resource.
Captain Kirk
Corporal
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Ok, I’m though!
Left 13 April, lump sum paid Tues 11 May. Letter followed the next day stating my EDP figures, then Thurs 13 May I got an interim payment for EDP. Main EDP is due 21st of a month.
You just have to accept that there is ZERO communication until you have received your lump sum. It’s not personal.
Left 13 April, lump sum paid Tues 11 May. Letter followed the next day stating my EDP figures, then Thurs 13 May I got an interim payment for EDP. Main EDP is due 21st of a month.
You just have to accept that there is ZERO communication until you have received your lump sum. It’s not personal.
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Always has been the way, it just works for most people, only issue is the tax code messing up every now and then.
Captain Kirk
Corporal
- 264
- 78
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Yes, the tax code issue, because of a slow P45 release, means I won’t earn a penny this month, everything taxed at 45% tax, with no tax allowance at all; I’ve changed it on the HMRC gateway, but that will take ‘up to 3 weeks’. To top that off, I’ running up a tax debt of £5k a month.
The best bit is, I’m nowhere near the 40% bracket so this will a quick fix, just not by the end of the month.