Simple way of calculating workplace pension contributions?

TheMilkmansDad

I may be daft here so feel free to judge accordingly!

Does your payslip not show what pension contributions have been made by your employer? My payslip does so I assume others (maybe not all) would also include this. You should be able to work that out as a percentage figure of your top line.

 It's then just a case of matching this to the pension providers statement.

xylophone

I've asked in my previous but do not workplace pension providers have member internet access nowadays?

And there is a great deal of information on the general web sites?

JustAnotherSaver

TheMilkmansDad said:

I may be daft here so feel free to judge accordingly!

Does your payslip not show what pension contributions have been made by your employer? My payslip does so I assume others (maybe not all) would also include this. You should be able to work that out as a percentage figure of your top line.

 It's then just a case of matching this to the pension providers statement.

No the payslip doesn't. It only shows what I've contributed.

I've seen payslips from 3 relatives over 4 different employers & none of them showed the employer contributions, only the employee ones.

xylophone said:

I've asked in my previous but do not workplace pension providers have member internet access nowadays?

And there is a great deal of information on the general web sites?

Yes I can log in to the provider website for my own account but it tells me nothing helpful. Just basically gives me a total balance.

Anyway, I was looking in the wrong areas it seems (as I've got this sorted now).

I was looking at pension websites for a quick answer. Seems there is none. They want your whole life story for something I think is surely a basic question with a basic answer.

Turns out I should've been looking at ratio websites (well duh yeah, I know I know). Calculatorsoup website got it spot on. 5:x ... 3:y and using their calculator it turns out the employer has actually been doing right which is nice to know.

MEM62

JustAnotherSaver said:

I can only say then that you live in a different (idealistic) world to me. You must've been blessed with superb employers all your life.

We live in the same world.  I have no experience of an employer trying to deliberately withhold employment benefits to which they are contractually obligated.  And I have worked for a few companies in my 44- year working life.  That said, in these days of tighter scrutiny and compliance, you have plenty of options open to you to hold you employer to account if they do.  

JustAnotherSaver said:

Yes I can log in to the provider website for my own account but it tells me nothing helpful. Just basically gives me a total balance.

The you should be able to see the 'contribution history'  which will answer your question.    

JustAnotherSaver

MEM62 said:

JustAnotherSaver said:

I can only say then that you live in a different (idealistic) world to me. You must've been blessed with superb employers all your life.

We live in the same world.  I have no experience of an employer trying to deliberately withhold employment benefits to which they are contractually obligated.  And I have worked for a few companies in my 44- year working life.  That said, in these days of tighter scrutiny and compliance, you have plenty of options open to you to hold you employer to account if they do.  

Then you must have experience of employers deducting pay from you because they were in a bad mood one day and accused you of something you didn't do so took money off you for it.

You must have experience of employers screaming in your face, foaming at the mouth, shouting all kinds of obscenities.

You must have experience of employers actively ripping off their customers, ordering you to be part of the cover up (my point being - if they'll do this to customers, they'll do this to you).

You must have experience of employers constantly shorting employees of the hours worked - to the point where it's no longer just a genuine mistake, it can't possibly be (ties in with previous pointer).

You must have experience of employers not really getting back to you with answers over pay/contractual questions because putting the time in to it doesn't make the company money, it costs the company money - so you need to keep asking but then you're labelled as a problem because you don't just bow your head and say yes sir no sir whatever you want sir.

If you tick those boxes then I guess we must live in the same world after all and I was wrong.

If not...

MEM62 said:

JustAnotherSaver said:

Yes I can log in to the provider website for my own account but it tells me nothing helpful. Just basically gives me a total balance.

The you should be able to see the 'contribution history'  which will answer your question.    

If you have access to the now pension portal, either you being with them or you know someone with them, then please tell me how you can find that information as I've been looking.

NoMore

Why the !!!!!! do you still work for them then ? 

JustAnotherSaver

NoMore said:

Why the !!!!!! do you still work for them then ? 

Knew that one was coming.

Call if metathesiophobia if you wish. Probably the best way I can describe it as it generally doesn't just apply to how I am regards work.

Whether it actually is that or not, who knows.

For those who don't get it, the knee-jerk will be to say well just move on what's the big deal.

A bit like telling a fat person who isn't really happy being fat to just stop eating cake 100 times per day & substitute lettuce instead or telling an alcoholic to 'just stop', why don't you just drink water instead?

I know I've just mentioned addictions & this is most certainly not an addiction, but you've asked a question & I've tried to answer it by explaining where I am with it.

Andy_L

JustAnotherSaver said:

I thought it'd be a simple case of saying I pay in X so therefore website, tell me that my employer must have to pay in Y.

After clicking through various websites it appears not as straight forward as that for some reason. They're wanting to know what my blood type is, what I had for breakfast, blah blah blah. Not sure why the websites can't just give the simple answer?

The only simple answer a website can give is the minimum contributions required under automatic enrolment, which is an employers contribution of 3%  of total earnings between  £6,240 and £50,270 a year before tax and an employees contribution of 5% (ie X = 5% & Y=3%)


https://www.gov.uk/workplace-pensions/what-you-your-employer-and-the-government-pay

Any contribution you make above that will only attract any contribution from the employer if your contract specifies it 

JustAnotherSaver

Andy_L said:

JustAnotherSaver said:

I thought it'd be a simple case of saying I pay in X so therefore website, tell me that my employer must have to pay in Y.

After clicking through various websites it appears not as straight forward as that for some reason. They're wanting to know what my blood type is, what I had for breakfast, blah blah blah. Not sure why the websites can't just give the simple answer?

The only simple answer a website can give is the minimum contributions required under automatic enrolment, which is an employers contribution of 3%  of total earnings between  £6,240 and £50,270 a year before tax and an employees contribution of 5% (ie X = 5% & Y=3%)


https://www.gov.uk/workplace-pensions/what-you-your-employer-and-the-government-pay

Any contribution you make above that will only attract any contribution from the employer if your contract specifies it 

Not that it matters now as https://www.calculatorsoup.com/calculators/math/ratios.php has sorted it but wouldn't the same still apply?

So let's pretend for a second (well actually not pretend because it's legit but....) that I decide to pay in above & beyond the 5%. Let's say I go 8% or 10% or whatever, but my employer, not happy at having to pay anything above £0.00 remains at the minimum 3%.

Wouldn't I just tweak the ratio calculator link above?

If X (8%) = £300 then Y (their 3%) = £??? and it'd just spit out the answer?

I have the answers provided by the provider. I just wanted to check that they're correct so I'd have to pick random entries and throw them in to the ratio calculator to see whether what the employer contributed matches what the calculator says is the correct ratio?