Fund units not increasing?

Reue

Hi guys,

This may be a stupid question however better to ask and find out!

I would assume that each month as I contribute more into my pension, those contributions would be used to purchase additional units of my chosen fund.

I have taken a look at last month's pension value compared to this month.

It is showing that I have the same number of units now as I did this time last month.. however I get paid at the end of each month and so additional pension contributions will have been made at the end of February.

Is there something I'm missing??

atush

Is this a company pension or a PP on a direct debit?

You should have more units, but payments into the plan can be late some times from employers.

Reue

atush wrote: »

Is this a company pension or a PP on a direct debit?

You should have more units, but payments into the plan can be late some times from employers.

It's a company pension. I can see from the website that it has tracked my payments (and company contrib) in on the 28th Feb.

redbuzzard

I think I'd be asking the same question ;-)

It could just be timing. If it's an employer scheme, they probably remit the money monthly with a detail file and it's a few days afterwards when the unit purchases appear on the individual accounts, at least that's what I experienced.

Ask the pensions department at work. Mistakes are made. I discovered recently that my lifestyle switching in my smallish DC fund had stopped when I left employment last June, even though it shouldn't have.

bigadaj

It s probably late from the company, my company seems to contribute around three weeks or later from the salary date, soemtihing I was going to chase up with them. I'll get onto this as mine is mainly my contribution with salary sacrifice so they haven't even the vague excuse of saying its their mo eh!

mania112

Also, if funds are received on day 1, it could be day 14 before they're properly invested.