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.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
In Need Of Some Pension Information
albertz58
Posts: 4 Newbie
I am in a company Pension scheme and I got
a yearly statement through the post.
Now on the statement it reads
Employees Contribution 0%
Employers Contribution 10%
AVCs 1.4%
My problem is I pay in 3% from my wage which is deducted
from my pay and shows on my payslip yet I have 0% contributions.
I phoned the Pension company that deals with this and was told that
the company puts in 7% and the employee 3% and it all gets tied in
together but as far as my statement reads I dont pay anything which
I think is wrong could you advise me if this is the correct way they
are dealing with it
a yearly statement through the post.
Now on the statement it reads
Employees Contribution 0%
Employers Contribution 10%
AVCs 1.4%
My problem is I pay in 3% from my wage which is deducted
from my pay and shows on my payslip yet I have 0% contributions.
I phoned the Pension company that deals with this and was told that
the company puts in 7% and the employee 3% and it all gets tied in
together but as far as my statement reads I dont pay anything which
I think is wrong could you advise me if this is the correct way they
are dealing with it
0
Comments
-
This is just how this particular admin is handled. Some will split it, some wont. However, the important thing is that the figure is correct and 10% is 7+3.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
Thanx For your info dunstonh and your
speedy response it'svery much
appreciated.
:beer:0 -
Salary sacrifice, maybe?Warning ..... I'm a peri-menopausal axe-wielding maniac
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards