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14% salary contributions?

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Comments

  • Grumpy_chap
    Grumpy_chap Posts: 20,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Marcon said:
    do I have the right to request the employee contributions be returned to me?


    When an employment has been short duration, there is a right to have the employee contributions returned.  They will be subject to taxation in the normal way.
    The employer contributions are usually not returned to the employee but to the employer.

    It's nothing to do with the length of the employment - it's to do with the length of scheme membership. With a DC scheme (and most auto enrolment schemes nowadays are DC), you've only got one month from being auto-enrolled to do that, which OP had already spotted:


    Aaah, yes, thank you.
    I was thinking it was two years from joining the scheme / employment but now looked up the current rules and see it is two years for DB scheme or 1 month for DC scheme.
    My understanding was either incorrect, or out of date.  Apologies if it misled.
  • Marcon
    Marcon Posts: 15,619 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Combo Breaker
    Marcon said:
    do I have the right to request the employee contributions be returned to me?


    When an employment has been short duration, there is a right to have the employee contributions returned.  They will be subject to taxation in the normal way.
    The employer contributions are usually not returned to the employee but to the employer.

    It's nothing to do with the length of the employment - it's to do with the length of scheme membership. With a DC scheme (and most auto enrolment schemes nowadays are DC), you've only got one month from being auto-enrolled to do that, which OP had already spotted:


    Aaah, yes, thank you.
    I was thinking it was two years from joining the scheme / employment but now looked up the current rules and see it is two years for DB scheme or 1 month for DC scheme.
    My understanding was either incorrect, or out of date.  Apologies if it misled.
    If only the wretched legislation would stop changing...!
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
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