Pension Contributions Credited to my Pension Fund

Malthusian

marlot wrote: »

It's legal. It's just the way the world works. Some employers were fairer and paid partly in arrears, partly in advance - I can remember being paid for the whole month on or around the 21st.

The obvious problem with that is that if you get sacked on a day after the 21st, the employer will add insult to injury by asking for the unearned wages back.

Alternatively, if they write it off, that's nice for the leaver but not really fair, as employees who leave after the 21st get an unearned bonus at the expense of those who leave before.

There really is no issue with being paid in arrears. If you don't trust your employer to pay up at the end of the month, that's far more than a cashflow / opportunity cost issue.

The opportunity cost of being paid monthly in arrears is known when the employee is negotiating their wages / salary and is therefore absorbed into the wages / salary they demand from the employer.

granta

This is really interesting to read. I did not realise that pension payment timings were written into law. My company routinely delays payments by 2-3 months. In December 2019, I had 3 months' worth of payments added into my pension (both employer and my own contribution). Do I have grounds to challenge that and are they likely to take note?

Paul_Herring

Do I have grounds to challenge that and are they likely to take note?

I wouldn't go confrontational in the first instance. "Did you know that pension payments are supposed to be paid by the 22nd? I can provide you with a link if you want..."