Late payment of uk pension

[Jip99]

Late Pension Payments

Just got of the phone with the Department of Work and Pensions. The delay in the payments is due to the Thai Government insisting that all pensions paid into the Banks in Thailand are now paid in by using a Swift and Iban code thus causing a delay in the process of the money showing in the Banks by 2-3 days. The guy in Work & Pensions did say they were looking at getting the payments out earlier to try to stop any delay's. For once not the UK's fault, Thai Govenment Paranoia about money laundering I expect

I believe the answer you got is bullcrap.

Asia does not use IBANs and I would like to know what Citibank were using before if they were not using SWIFT codes.

[Jip99]

An annual payment could be circa GBP 7,000 and at that figure a bank (or FX company) could be prepared to offer you a forward rate which would eliminate any risk (of loss or gain) it would fix what would otherwise be an uncertain currency amount,

The DWP do not do annual payments. it is 4 or 13 weeks.

But, ........ if managing your exchange rate risk was the MAJOR factor you could accumulate your 4 quarterly payments and you could take out a forward contract if you believed the rate was favourable.

Not what was asked. "Can it be paid yearly" AND WOULD IT MAKE ANY DIFFERENCE"

Pedant.

As it is a forum, I thought I would broaden the discussion into managing exchange rate risk.

[sandyf]

As it is a forum, I thought I would broaden the discussion into managing exchange rate risk.

In other words nothing to do with state pensions.

[vogie]

Mines late again this month....

Did you get it 28 days after last months payment transam?

[Jip99]

Mines late again this month....

Did you get it 28 days after last months payment transam?

Used to arrive on a Monday, last month it arrived on the Wednesday (30 days), couple of days late. So it ain't reverted back to Monday as it ain't there. Will look today (Tuesday)..

I know 2 people in a similar position to you, but already later than last month.

[vogie]

Mine was paid in on the 17th last month, this month was paid in on the 9th. It appears to be all over the place at the moment, nothing consistant.

[arfurcrown]

My payment arrived 28 days after the late payment the previous month, seems as if the system is certainly a bit sporadic inits operations.

Whether or not that is due to the U.K. or the Thai side is of course a matter of pure conjecture.,

[billd766]

Mine usually turns up on a Monday after the obligatory 2 day weekend.

This month it turned up on Tuesday about lunchtime.

An extra days delay.

[sandyf]

It is after 10 am, not looking good for my pension today. This will be the 3rd time in 3 years that it has been after 09.30 on the Friday morning, last time was over a year ago.

[theoldgit]

Sandy

It's a Bank Holiday today, I'm pretty sure they don't update on Bank Holidays, you'll probably have to wait until Monday.

[Jip99]

It is after 10 am, not looking good for my pension today. This will be the 3rd time in 3 years that it has been after 09.30 on the Friday morning, last time was over a year ago.

Not looking good at all Sandy - it is a bank holiday

[sandyf]

It is after 10 am, not looking good for my pension today. This will be the 3rd time in 3 years that it has been after 09.30 on the Friday morning, last time was over a year ago.

Not looking good at all Sandy - it is a bank holiday

Yes, just realised that. Last time it hit a holiday, I got it on the Thursday, maybe they did not pick up on this one.

Just hope it was paid last night before the rate went down. Should be sat in the Bahtnet queue.

[ElderlyGent]

Please see below further information about late UK pensions

If you are dissatisfied with the way your complaint has been dealt with you can ask for the matter to be investigated on behalf of the Director General, Operations. If you would like to do this, please write to the DWP Director General, Operations, Noel Shanahan CB at PO Box 50101, London, SW1P 2WU within six months of the date of this email. He will then arrange a response from an appropriate officer within the Department.

Yours sincerely

David Stephenson

• The Rt Hon Iain Duncan Smith MP continues as Secretary of State for Work and Pensions - 2015

Well now we all know who's running things, maybe we can put some pressure on the culprits !

[ElderlyGent]

I found this on parliament.uk./EDM It was signed by about 70 MP's of all parties. So they're trying to unfreeze our expat pensions around the world. Apparently it will cost about 650 million a year. They pay 12 Billion a year in foreign aid. They pay 55 million a day, yes a day to be in the EU. This government is not on the side of ordinary people ! We need more publicity to get people's attention in the UK.

BRITISH PENSIONERS OVERSEAS

• Session: 2015-16

• Date tabled: 21.07.2015

Primary sponsor: Qureshi, Yasmin

Sponsors:

• Bottomley, Peter

Blackford, Ian

Mulholland, Greg

Cameron, Lisa

Ferrier, Margaret

That this House believes that all pensioners have the right to dignity in retirement; notes that 550,000 British pensioners living in 122 countries overseas do not get their pension automatically uprated, but pensioners living in other countries do; regrets that, while those pensioners adversely affected have made the necessary National Insurance contributions they are denied an equal pension; further notes that these pensioners are living on effectively declining incomes, sometimes on as little as £30 per week; recognises that pensioners retiring abroad deliver considerable savings to the UK economy; further believes that this policy has a negative impact on the ability of many British citizens who might wish to retire abroad to do so; and urges the Government to consider ways to allow pensioners to receive the full pensions that they are entitled to, and to retire in dignity wherever they choose to live.

[ElderlyGent]

BRITISH PENSIONERS OVERSEAS

• Session: 2015-16

• Date tabled: 21.07.2015

Primary sponsor: Qureshi, Yasmin

Sponsors:

• Bottomley, Peter

Blackford, Ian

Mulholland, Greg

Cameron, Lisa

Ferrier, Margaret

That this House believes that all pensioners have the right to dignity in retirement; notes that 550,000 British pensioners living in 122 countries overseas do not get their pension automatically uprated, but pensioners living in other countries do; regrets that, while those pensioners adversely affected have made the necessary National Insurance contributions they are denied an equal pension; further notes that these pensioners are living on effectively declining incomes, sometimes on as little as £30 per week; recognises that pensioners retiring abroad deliver considerable savings to the UK economy; further believes that this policy has a negative impact on the ability of many British citizens who might wish to retire abroad to do so; and urges the Government to consider ways to allow pensioners to receive the full pensions that they are entitled to, and to retire in dignity wherever they choose to live.

[ElderlyGent]

https://en.wikipedia.org/wiki/Iain_Duncan_Smith

Have a look at this guy's page on Wikipedia, you'll be amazed, or maybe you won't. This guy's in charge of the DEPT. Works & Pensions

How he's still there beggars belief. He's got to go !

Secretary of State for Work and Pensions

[sandyf]

Pension came in at 09.50 this morning, about half an hour behind the normal time. Hit the account at 54.45, a bit less than last month but still a lot better than it was.

[billd766]

My state pension turned up yesterday, 4 days after it was due.

Saturday and Sunday were as normal, I used to arrive on the Monday around 09.30 but it didn't arrive until Tuesday around 09.30.

So from now on under the new expedited system, Tuesday is now Monday which is really Friday.

Ain't progress a wonderful thing?

[vogie]

My state pension turned up yesterday, 4 days after it was due.

Saturday and Sunday were as normal, I used to arrive on the Monday around 09.30 but it didn't arrive until Tuesday around 09.30.

So from now on under the new expedited system, Tuesday is now Monday which is really Friday.

Ain't progress a wonderful thing?

Are you paid monthly or 4 weekly Bill?

[maccraw]

My payment comes in on a Tuesday now, same as other posts. However the rate of exchange doesnt seem to match with any publlshed rate---- it used to tally with the UK due {Friday} date.

Rate was 54.1

Edited November 4, 2015 by maccraw

[billd766]

My state pension turned up yesterday, 4 days after it was due.

Saturday and Sunday were as normal, I used to arrive on the Monday around 09.30 but it didn't arrive until Tuesday around 09.30.

So from now on under the new expedited system, Tuesday is now Monday which is really Friday.

Ain't progress a wonderful thing?

Are you paid monthly or 4 weekly Bill?

Every 4th Friday it is due in my bank account, in the UK, assuming of course that I actually had a UK bank account.

[billd766]

My payment comes in on a Tuesday now, same as other posts. However the rate of exchange doesnt seem to match with any publlshed rate---- it used to tally with the UK due {Friday} date.

Rate was 54.1

I use KBank and I divide the amount that I get in THB by the amount of my pension on GB£ and come up with an exchange rate.

Yesterday it was 54.44 THB/1 GB£

[ElderlyGent]

Running true to past form my UK State Pension payment has NOT arrived today, Thursday 5th November 2015. Last month it came on the following Tuesday 5 days late. Someone is having a joke here. Money doesn't disappear. I've asked Kasikorn Bank and they say they haven't got it. I've asked Newcastle pensions line and they say they've paid it to Citizen Bank in America days ago.

So is it Citizen Bank causing the delay ? Has anyone any ideas of how we can get to the truth on this. If so please tell us all. I know I'm not the only one waiting for this money. I've a couple of young children here in Thailand and it's a real struggle. Plus it's so infuriating to know someone knows this is happening and won't sort the problem out.

I suspect Ian Duncan Smith the minister in charge of Pensions is the culprit. How can we prove it. I've written all sorts of people in government and the press and nobody is that bothered.

So if anyone has any news, do please let us all know - Thank you in advance

[maccraw]

Newbie--

After the first late payment --":your payments will start showing in your account every 4 weeks" quote from the DWP letter about late payments.---banking provider is Citibank. Payments seem now to all be on a Tuesday rather than Monday previously

Could it be that your 4 weekly payment is due next week?

Show original message

[vogie]

Newbie--

After the first late payment --":your payments will start showing in your account every 4 weeks" quote from the DWP letter about late payments.---banking provider is Citibank. Payments seem now to all be on a Tuesday rather than Monday previously

Could it be that your 4 weekly payment is due next week?

Show original message

Am I right in thinking that if we get paid every 4 weeks (28 days) that the payment day will be different every month, ie, we get 13 months pension and not 12.

[ElderlyGent]

I've spoken to numerous people about this problem.

Apparently Newcastle can provide a tracking number for your pension payment. You can then ask your bank to check where the money is using this tracking number.

CitiBank in Bangkok should be able to give some sort of explanation, because according to Newcastle, they've paid the money days ago and simply say "We can't guarantee when you'll receive payment, we can only tell you when we paid CitiBank and they also said Payment could be received in five to ten working days of your original payment day"

That reply is of course a totally unacceptable excuse. I think if they are really bothered about this shambles, they could do something about immediately.

For a start, they could pay everyone two or three days earlier, but they haven't and don't seem to intend to.

So, I've had a word with my bank this end, and I've spoken to Newcastle DWP office and found out zero

I've now discovered the phone number of CitiBank in Bangkok. So, tomorrow I intend to ring them and ask them what is causing this delay and how can we speed it up. Do they need a long SWIFT Code number or some other information.

CitiBank Bangkok - 399 Sukhumvit Road - Tel - 1588

CitiBank Bangkok - Silom Branch - 02 650 5999

Maybe, I'll get to speak to someone who can speak English and tell me exactly why it's taking so long ?

Kind regards to all and do let me know if anyone has any success sorting this out.

[vogie]

My pension should have gone in yesterday (5th) have just checked checked today, still nothing.

[vogie]

My pension should have gone in yesterday (5th) have just checked checked today, still nothing.

Checked again today at 1500hrs and it has gone in???

[Seekingasylum]

What I don't understand is why folk don't simply get the DWP to pay their pension into their British bank account and then transfer funds to Thailand when necessary online according to a protocol which they know will always work.

[billd766]

What I don't understand is why folk don't simply get the DWP to pay their pension into their British bank account and then transfer funds to Thailand when necessary online according to a protocol which they know will always work.

Perhaps because not everybody still has a UK bank account.

I closed my Lloyds UK offshore account in Jersey a few years ago when they wanted to charge me £75 a year just to have it plus ATM charges every time I used it in Thailand. In addition I never managed to speak to anybody in Jersey as I had to use the International centre in the IOM. I rang them one time and was on hold a long time and when my call was answered I found that I had been transferred to a call centre in India.

My card was blocked several times and the only way to unblock it was to ring the International Call Centre at my expense. In addition when my card was due for replacement they didn't want to send it to Thailand. They also used to send me a paper statement every month even though I used Internet banking and when I told them not to bother they said the they had to whether I wanted it or not.

I think that the DWP charge me about £3 a time to transfer my pension money to Thailand. It gets paid, supposedly, every 4th Friday and I used to get it on the Monday following but now it is the Tuesday instead.

The new improved version now takes 1 day longer. That is progress 2015 style.

Edited November 8, 2015 by billd766