I received a letter today from Capita apologising for their failure to implement tax codes issued in 2016/17 for HPS2 members.
I'm not personally affected but some members may have underpaid or overpaid tax by a considerable amount.
HMRC are going to make the necessary changes to the 2017/18 tax codes to recover any underpayment. This could have a considerable effect on the net pension of those worse affected.
I would have expected that an error of this magnitude would have been advised to the members by the Trustees or by at least by CH2M Hill rather than the provider of payroll services.
I await with interest any comments that the trustee make and what steps they will take to attempt to avoid such basic errors in future. I don't recall similar errors when pensions were paid by the companies own payroll department.
