Pension contributions queries.

Own_Worst_Enermy

Hi,

Can an Employer claw back pension contributions with the pension provider? Say if you were not there long or as you now find out it was deemed 'salary sacrifice' (SS is completely over my head, I'm not familar with it at all) I went to work for an Insurance broker a couple of years ago who I firmly believed whilst I was there were paying contributions from the very get go (no waiting 3 months marlarky) I received paperwork from the pension provider and continue to do so (although had picked up in recent months this pot actually has had a name change but thought nothing more of it) and only in recent days shockingly has it come to light showing 0.00.  Why would the pension provider continue to send statements in first place. I have two private mid large firms with this same pension provider from 16/17 where pension contributions haven't been lost so I was wondering if Salary sacrifice somehow comes in to because it is only now I've picked up on that from the job offer letter from the broker.

My most recent company I'm trying to press/opt for early auto enroll rather then wait 3 months, I'm quite happy to see a deduction from my first wage, (not exactly getting young) (but getting an obstacle or two but I'm not letting that put me off) It just say's matched contributions with this employer? I can't see any percent's quoted in the offer paperwork so on their form now which of course goes against everything easy so far.. can I go 10%? I really don't want to hold out until the 3rd month with it being a high targeted sales job and of course it might become ta'ra and another employer gets off not paying contributions, even if just a short time.

Can I lobby anyone about why some companies auto enroll immediately and some companies do 3 months?

Thank you.

Marcon

Own_Worst_Enermy said:

Hi,

Can an Employer claw back pension contributions with the pension provider? Say if you were not there long or as you now find out it was deemed 'salary sacrifice' (SS is completely over my head, I'm not familar with it at all) I went to work for an Insurance broker a couple of years ago who I firmly believed whilst I was there were paying contributions from the very get go (no waiting 3 months marlarky) I received paperwork from the pension provider and continue to do so (although had picked up in recent months this pot actually has had a name change but thought nothing more of it) and only in recent days shockingly has it come to light showing 0.00.  Why would the pension provider continue to send statements in first place. I have two private mid large firms with this same pension provider from 16/17 where pension contributions haven't been lost so I was wondering if Salary sacrifice somehow comes in to because it is only now I've picked up on that from the job offer letter from the broker.

Good clear explanation of salary sacrifice here: https://www.moneyhelper.org.uk/en/pensions-and-retirement/building-your-retirement-pot/salary-sacrifice-and-your-pension

Were you a member of this scheme for under 2 years and was it an occupational scheme (i.e. one run by trustees for the benefit of your employer's staff, but nobody else)? if yes, the link I've given should help. 

Otherwise...have you contacted the pension provider to ask why the balance now shows 0.00? Mistake is entirely possible, so that's your first port of call.

Own_Worst_Enermy said:

My most recent company I'm trying to press/opt for early auto enroll rather then wait 3 months, I'm quite happy to see a deduction from my first wage, (not exactly getting young) (but getting an obstacle or two but I'm not letting that put me off) It just say's matched contributions with this employer? I can't see any percent's quoted in the offer paperwork so on their form now which of course goes against everything easy so far.. can I go 10%? I really don't want to hold out until the 3rd month with it being a high targeted sales job and of course it might become ta'ra and another employer gets off not paying contributions, even if just a short time.

Can I lobby anyone about why some companies auto enroll immediately and some companies do 3 months?

Thank you.

You can ask to be enrolled and start paying personal contributions as soon as you become an employee, but the employer doesn't have to contribute until the 3 month mark if that's their policy and that's contractually what you signed up for.

You can lobby anyone you like, but it won't get you anywhere, I'm afraid. The whole point of allowing the employer a 3 month period before they have to auto-enrolment is to avoid the high costs associated with enrolling new employees who then decide within a few months that the job isn't for them. Better bet would be to try and negotiate any future role on the basis that the employer hires you with immediate pension entry written into your contract.

Own_Worst_Enermy

Ah thanks, I managed to very kindly and efficiently get back payslips today from the Insurance broker (fortunately I kept in my box about it) and so must take it back, there were no pension contributions made after all so I think I'm going to contact the pension provider and try to ask if possible they least remove me from their correspondence about it. 

I've had a small victory today which I really thought was never going to happen, from the employer that I had done half year for who are now back contributing something at least.

I just don't know, I've had my father shout at me, saying how did I have to enroll your Mum (company secretary) straight away in his little business.

Anyway consider this closed.