Foreign employer contributions into a UK pension, is this possible?

Lordy83

Hi Everyone

I am currently employed my a company based in the EU, I am payed through PAYE and am a UK Tax payer. I am the only UK based employee. 

My employer and myself have been making regular contributions into a private pension scheme, this scheme isn't suitable anymore (i wont go into why, there isn't enough time in the day). 

I am therefore trying to set up another private pension scheme for me and my employer to pay into. However this is proving to be a huge challenge. I can not find any providers who can accept a contribution from a foreign country. I have even tried independent financial advice and that has also not provided any solution. 

Has anyone had a similar challenge, or does anyone have any advice, ideas or solutions as ways around this problem? 

FYI. my employer is being pretty unhelpful on this subject because they have absolutely no knowledge of the UK Pension system. However, by law they must offer me a solution, so I am ultimately acting on their behalf to sort this out. An simple solution would be for them to open a UK bank account, but this is not straightforward apparently. However, if I get the Pension Ombudsman involved they might be forced to find a solution, but I don't want to go down this route.  

Thanks in advance!

  

JoeCrystal

Are you employed by UK company established by the EU company? In theory the UK company is legally requires to offer an auto enrollment pension then?

I mean, can foreign company even use PAYE? 

There is a website that talk about this. Could they not ask whomever set up PAYE scheme to also set up auto enrollment pension scheme as well?

"Scrutton Bland can typically set up a PAYE scheme within 15 working days and can also help employers outside of the UK to fulfil their auto-enrolment pension obligations (even where the overseas company does not have a UK bank account)."

penners324

How are you currently paid? Getting your employer to use an Employer of Record seems the obvious solution.

As stated your company PAYE registered?

Albermarle

Normally foreign companies either employ people through an existing UK subsidiary ( this company activities could be in an unrelated area) or they employ an accountant to set up a new UK company, just for the purpose of paying you.
The same entity should then sort out your pension arrangements. As they are UK based there would be no problem with finding a pension provider.

Lordy83

JoeCrystal said:

Are you employed by UK company established by the EU company? In theory the UK company is legally requires to offer an auto enrollment pension then?

I mean, can foreign company even use PAYE? 

There is a website that talk about this. Could they not ask whomever set up PAYE scheme to also set up auto enrollment pension scheme as well?

"Scrutton Bland can typically set up a PAYE scheme within 15 working days and can also help employers outside of the UK to fulfil their auto-enrolment pension obligations (even where the overseas company does not have a UK bank account)."

It is an EU company registered in Belgium. I am going to look at Scrutton Bland. We apparently have a company that set all the PAYE up for us so they should be able to help me to be honest. 

Marcon

Or try https://www.smartpension.co.uk/news-and-media/yonder-smart-pension

Albermarle

Lordy83 said:

JoeCrystal said:

Are you employed by UK company established by the EU company? In theory the UK company is legally requires to offer an auto enrollment pension then?

I mean, can foreign company even use PAYE? 

There is a website that talk about this. Could they not ask whomever set up PAYE scheme to also set up auto enrollment pension scheme as well?

"Scrutton Bland can typically set up a PAYE scheme within 15 working days and can also help employers outside of the UK to fulfil their auto-enrolment pension obligations (even where the overseas company does not have a UK bank account)."

It is an EU company registered in Belgium. I am going to look at Scrutton Bland. We apparently have a company that set all the PAYE up for us so they should be able to help me to be honest. 

I was in a similar position.
Although I reported directly to Belgium, my legal employer in the eyes of HMRC etc was the local entity. So they were responsible for making sure I had a UK workplace pension that they ( and me ) contributed to.
The Belgian company sent them money on a regular basis to cover all my costs, and a slice for them as well. 

Lordy83

Hi everyone

Thanks so much for the comments. Honestly, this platform has been more helpful than any pension provider, IFA or my HR department has been on this subject. 

I have been in contact with Smart Pension, they have been incredible, and I think we have a solution. Basically the BE office will set up a special account through one of their affiliated banks, which my employer can then set up contributions from. There is a bit of set up, some small fees here and there but when it's done it all looks very straightforward, and in the end they are compliant with all the UK Workplace Pension regulations. 

Progress, finally

And i might get to retire one day! 
  

JoeCrystal

That is great to hear! 😀 Maybe you should convince them to use salary sacrifice and share all their NI savings into it. 😎