Delayed and missing pension payments, what can I do?

tallalex85

Hello everyone,

I’m in a company with several hundred employees. Back in April my employer moved to a different HR/Payroll system. Since then pension contributions have been taken off our pay correctly but 3 of the payments have been late going into our pension accounts and 3 haven’t been paid at all.

My employer didn’t notify us of this until today. In their update they’ve explained that they’re working to resolve the issue but have not given an apology or offered any compensation. They also say the delay has not breached any regulations.

I’ve reported this to the pension regulator (TPR), as that final point doesn’t sound right – the regulations clearly say that payments need to go in my the 22nd of the following month. In the autoreply to my report the TPR say “we are unable to supply any feedback to you about the outcome of any possible investigation”.

Is there anything else I can do? Are they really not breaching regulations?

Am I entitled to compensation for lost growth? If so, how would I go about getting it?

Thanks for your help.

xylophone

https://www.pensionsadvisoryservice.org.uk/pension-problems/pension-security/paying-contributions-on-time

tallalex85

Thanks, that's where I read the regulations around timings. So it certainly sounds like they're breaking the rules but what can I do about it?

xylophone

Discuss with TPAS as a first step.

cfw1994

Our company has a minor history of getting later and later with payments, although apparently never actually breaching legal requirements. I only knew this because a colleague (closer to retirement than me) was spotting it and calling them out on it.
Maddening really, but I must admit I kind of let it wash over me as something I couldn't really fix!

Worthwhile chasing down: bit sad that the company won't explain what is going on.

choccielover

Who is the pension company?? Are you sure it’s not them rather than the company.

We used to use one (still trying to untangle the mess!) and the we’re dreadful at allocating the correct payments on time

atush

While you ar right to be concerned, your company has brought up the situation to members, and is investigating.

Surely any compensation ideas would likely follow on from that report? I cant see any pension regulator jumping in until that report is forrth coming? Perhaps patience is key here. All the hile assuming that you will be put into a situation you would have been inhad the mistake not occurred.

If you arent happy with the report/any action? that is the time to consider action yourself?