Pension contributions on bonus?

nessierob

https://forums.moneysavingexpert.com/discussion/comment/80491299#Comment_80491299

i am having talks with the DWP and TPR over this at the moment set 1 says 9% of basic pay , i agree with that but if you look at the DWP guide on certification of money purchase schemes in paragraph 4.5 it says the contribution levels for the sets , but in set 1 depending on which guidance you look at says either as footnote 6 or a tiny 6 above set 1 that "Under set 1 the pensionable earnings of the jobholder must be equal to or more than that jobholder’s basic pay (except where there is an upper limit to contributions, but contributions made to jobholders affected by the upper limit satisfy the quality requirements under the Act)" so set 1 is not always 9% of basic pay if there is a limit on contributions , feel that includes the set itself as you can contribute 9% of any figure ,. You can pay some one £1 a year with all the rest commission overtime so it would produce 9p a year contribution

Marcon

Not much point resurrecting a thread which is nearly 3 years old - and by chance I've just responded to your thread of today's date, and flagged @hugheskevi in case they feel moved to reply. I think now I've seen what he said in 2023, probably not!