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Deduction from wages
Blackhorse_2
Posts: 5 Forumite
OK, first post here, and I hope everyone bears with me as I can't believe the situation myself at all!
My employer has been taking pension contributions from me since I started in the role last year. In the meantime, he closed the company and started a new one as we had a change in direction. My employment continued, just working under a new name
(Before anyone asks, nothing dodgy happening here, we started up a completely different business doing different things)
I've just found out that the deductions have not been paid into a pension. To say I'm not impressed is an understatement. I only knew because he's asked to set one up as he has the money sitting around.
I've said that if that's the case I would prefer he paid me the money after taking off tax and NI. He has said he can't, as all the NI contributions tax etc. have been finalised for the last tax year/the company has been wound down.
I'm not happy about this at all and just have no faith. I'm also not happy with me being told to set it up so he can make the payment when he was the one administering the company pension scheme.
Can I demand it to be paid out to me?
My employer has been taking pension contributions from me since I started in the role last year. In the meantime, he closed the company and started a new one as we had a change in direction. My employment continued, just working under a new name
(Before anyone asks, nothing dodgy happening here, we started up a completely different business doing different things)
I've just found out that the deductions have not been paid into a pension. To say I'm not impressed is an understatement. I only knew because he's asked to set one up as he has the money sitting around.
I've said that if that's the case I would prefer he paid me the money after taking off tax and NI. He has said he can't, as all the NI contributions tax etc. have been finalised for the last tax year/the company has been wound down.
I'm not happy about this at all and just have no faith. I'm also not happy with me being told to set it up so he can make the payment when he was the one administering the company pension scheme.
Can I demand it to be paid out to me?
0
Comments
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Blackhorse wrote: »OK, first post here, and I hope everyone bears with me as I can't believe the situation myself at all!
My employer has been taking pension contributions from me since I started in the role last year. In the meantime, he closed the company and started a new one as we had a change in direction. My employment continued, just working under a new name
(Before anyone asks, nothing dodgy happening here, we started up a completely different business doing different things)
I've just found out that the deductions have not been paid into a pension. To say I'm not impressed is an understatement. I only knew because he's asked to set one up as he has the money sitting around.
I've said that if that's the case I would prefer he paid me the money after taking off tax and NI. He has said he can't, as all the NI contributions tax etc. have been finalised for the last tax year/the company has been wound down.
I'm not happy about this at all and just have no faith. I'm also not happy with me being told to set it up so he can make the payment when he was the one administering the company pension scheme.
Can I demand it to be paid out to me?
If the company has been liquidated how can the money exist?0 -
That was one of my thoughts....0
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If it does not exist, that would be fraud, unless the company was liquidated through insolvency. But who is to say that the old company was liquidated? 'Closed' does not quite cover the point to me.getmore4less wrote: »If the company has been liquidated how can the money exist?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
DVardysShadow wrote: »If it does not exist, that would be fraud, unless the company was liquidated through insolvency. But who is to say that the old company was liquidated? 'Closed' does not quite cover the point to me.
OKI've said that if that's the case I would prefer he paid me the money after taking off tax and NI. He has said he can't, as all the NI contributions tax etc. have been finalised for the last tax year/the company has been wound down.
Pension contributions not reaching a suitable provider might interest the tax man and pension regulators.
(out of my area but interested)0
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