Reasonable Time to Credit Payments into DC Scheme

BikingBud

eastcorkram said:

BikingBud said:

Still no actual justifiable reasons for the delays, just repeating, because that's the way it is! It's like listening to parents who say "because I say so!"

@Dazed_and_C0nfused - Do you work for a pension company?

Interesting that this is considered only to be my problem and the behaviour and actions of the large corporate bodies are just something the little people have to deal with. But why should I have to accept an ulterior product to get the level of service that should be mandated by regulation?

Another example of where responses on a money saving site appear wholly at odds with the intent of the site, "Cutting Your Costs, Fighting Your Corner".

Am I really the only one here that feels it is grossly unjust?

Not sure why you expect anyone on here to give you justifiable reasons for it. My works scheme always took three weeks. 

How about tax relief added to a SIPP. I have got one with Fidelity, which I pay into each month. The tax relief has not been added for the contribution made on 06/12/24 yet. I've no idea why it takes that long. 

I did wonder if there was any justification but it does appear that none exits. Did you every query or consider it unacceptable that it always took three weeks for you works scheme? If not then, along with others who just accept it is how it is, perhaps you are also part of the problem.

In response to your whataboutery, which really is quite different due to another external agency being involved, I have no idea about the delay with tax relief payments for your SIPP but if you are concerned have you queried it? 

eastcorkram

BikingBud said:

eastcorkram said:

BikingBud said:

Still no actual justifiable reasons for the delays, just repeating, because that's the way it is! It's like listening to parents who say "because I say so!"

@Dazed_and_C0nfused - Do you work for a pension company?

Interesting that this is considered only to be my problem and the behaviour and actions of the large corporate bodies are just something the little people have to deal with. But why should I have to accept an ulterior product to get the level of service that should be mandated by regulation?

Another example of where responses on a money saving site appear wholly at odds with the intent of the site, "Cutting Your Costs, Fighting Your Corner".

Am I really the only one here that feels it is grossly unjust?

Not sure why you expect anyone on here to give you justifiable reasons for it. My works scheme always took three weeks. 

How about tax relief added to a SIPP. I have got one with Fidelity, which I pay into each month. The tax relief has not been added for the contribution made on 06/12/24 yet. I've no idea why it takes that long. 

I did wonder if there was any justification but it does appear that none exits. Did you every query or consider it unacceptable that it always took three weeks for you works scheme? If not then, along with others who just accept it is how it is, perhaps you are also part of the problem.

In response to your whataboutery, which really is quite different due to another external agency being involved, I have no idea about the delay with tax relief payments for your SIPP but if you are concerned have you queried it? 

Well there it is. You have your answer. I'm the problem. In response to your whataboutery, I was merely pointing out something else that takes a long time. How long extra do you think another external agency being involved should add?

Dazed_and_C0nfused

eastcorkram said:

BikingBud said:

Still no actual justifiable reasons for the delays, just repeating, because that's the way it is! It's like listening to parents who say "because I say so!"

@Dazed_and_C0nfused - Do you work for a pension company?

Interesting that this is considered only to be my problem and the behaviour and actions of the large corporate bodies are just something the little people have to deal with. But why should I have to accept an ulterior product to get the level of service that should be mandated by regulation?

Another example of where responses on a money saving site appear wholly at odds with the intent of the site, "Cutting Your Costs, Fighting Your Corner".

Am I really the only one here that feels it is grossly unjust?

Not sure why you expect anyone on here to give you justifiable reasons for it. My works scheme always took three weeks. 

How about tax relief added to a SIPP. I have got one with Fidelity, which I pay into each month. The tax relief has not been added for the contribution made on 06/12/24 yet. I've no idea why it takes that long. 

That will be related to HMRC funding of the tax relief.

Some pension providers pre fund the tax relief, others apply for it from HMRC and credit it once received.

I suspect in your case you have contributed on day 1 of a funding month.  So shortly after 05/01/25 your pension provider would ask HMRC for the funds and usually credit your account towards the end of February 2025.

If you had made the contribution on 05/12/24 then you would probably have get the tax relief a month earlier.

Dazed_and_C0nfused

BikingBud said:

Still no actual justifiable reasons for the delays, just repeating, because that's the way it is! It's like listening to parents who say "because I say so!"

@Dazed_and_C0nfused - Do you work for a pension company?

Interesting that this is considered only to be my problem and the behaviour and actions of the large corporate bodies are just something the little people have to deal with. But why should I have to accept an ulterior product to get the level of service that should be mandated by regulation?

Another example of where responses on a money saving site appear wholly at odds with the intent of the site, "Cutting Your Costs, Fighting Your Corner".

Am I really the only one here that feels it is grossly unjust?

You are getting the level of service that has been mandated in legislation though.

If you think that legislation is wrong then you can always lobby your MP to have the legislation changed.  Or become an MP and get in a position to make that change yourself.

And no, I don't work for a pension company.