consequences of accidental overpayment to pension

tdcryer

I'm planning to retire in a couple of months so made a large one off payment through the pay roll to my work place pension in March. Pay was received on 30th of March but my employer didn't get round to paying the pension provider till the 6th of April, this financial year. 
It's going to take contributions well over 100% of my income this financial year. What sort of penalties will I incur and is there anything I can do about it apart from working longer. 

Marcon

tdcryer said:

I'm planning to retire in a couple of months so made a large one off payment through the pay roll to my work place pension in March. Pay was received on 30th of March but my employer didn't get round to paying the pension provider till the 6th of April, this financial year. 
It's going to take contributions well over 100% of my income this financial year. What sort of penalties will I incur and is there anything I can do about it apart from working longer. 

I'm not sure you have a problem at all! See https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm041000 and scroll down to the section headed 'Deemed date of contributions'.

mark55man

Thank you Marcon - very helpful

zagfles

There may be a problem if it was a RAS (relief at source) contribution but not if "net pay" or salary sacrifice. Was the pension contribution deducted before or after tax? It should be obvious for a big contribution, was tax much lower than usual?

tdcryer

Many thanks all, looks hopeful.
Tax was pretty much the same as the previous month

tdcryer

In fact having checked my pay slip it's quoted as 'bonus salary sacrifice'