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DC contributions whilst signed off sick
trevjl
Posts: 300 Forumite
I will ask my company, but this has only come up this afternoon so thought I would ask the folks here in the meantime as I cant find a good answer on google.
I was intending to retire at age 60 towards the end of next month but have not handed in my notice as what I knew may happen has now been confirmed.
I will now be signed off sick in a couple of weeks time for at least 4 months. I will receive full pay for 2 months and the after that it's at their discretion, so read that as no and so will therefore likely be on SSP.
I think I am right that for the first 2 months the contributions from both myself and my employer will stay the same but what happens to contributions when I am on SSP ?
I was intending to retire at age 60 towards the end of next month but have not handed in my notice as what I knew may happen has now been confirmed.
I will now be signed off sick in a couple of weeks time for at least 4 months. I will receive full pay for 2 months and the after that it's at their discretion, so read that as no and so will therefore likely be on SSP.
I think I am right that for the first 2 months the contributions from both myself and my employer will stay the same but what happens to contributions when I am on SSP ?
0
Comments
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https://www.nowpensions.com/help-and-support/employers/faqs/covid-19/is-statutory-sick-pay-included-as-part-of-qualifying-earnings-for-the-purposes-of-a-workplace-pension/#:~:text=During sick leave, pension contributions,is less than normal pay.
Seems relevant.
Have you obtained a state pension forecast?
https://www.gov.uk/check-state-pension
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Our contributions are based on last financial years earnings, so I guess there will be special arrangements for this scenario.
I am wary of them as I had 3 months furlough and they tried to change the payments to that based on that months earnings without any consultations at all. I soon put them right.!
Yes I have been at it for 43 years and have checked I will get he most I can at 670
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