We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.
company pension scheme

vekapensionsucks
Posts: 1 Newbie
the company i work for has changed pension companies from standard life to scottish widows. i currently pay 7% of my salary to the scheme my company pays 6%. i used to pay 120 per month the company 94. but since the change i only pay 92 per month and the company still pay 94. when i queried this with the HR dept they said "we used to collect the money as a net payment but now we collect it as a gross payment"
i have 2 pension illustrations the first dated 3 august states:
you pay 119.17
basic tax relief 33.61
employer pays 94.96
total 247.74
the second illustration dated 23 august states:
you pay 92.95
basic tax relief 26.22
employer pays 94.96
total 214.13
we were told we would incur no cost to change plans. is this a hidden cost or are we being ripped off? my salary has not changed
i have 2 pension illustrations the first dated 3 august states:
you pay 119.17
basic tax relief 33.61
employer pays 94.96
total 247.74
the second illustration dated 23 august states:
you pay 92.95
basic tax relief 26.22
employer pays 94.96
total 214.13
we were told we would incur no cost to change plans. is this a hidden cost or are we being ripped off? my salary has not changed
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.4K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.4K Spending & Discounts
- 241K Work, Benefits & Business
- 617.3K Mortgages, Homes & Bills
- 175.7K Life & Family
- 254.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards