We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
14% salary contributions?
Comments
-
Aaah, yes, thank you.Marcon said:
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:Grumpy_chap said:
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.littlemiss19 said:do I have the right to request the employee contributions be returned to me?
The employer contributions are usually not returned to the employee but to the employer.
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My understanding was either incorrect, or out of date.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.0 -
If only the wretched legislation would stop changing...!Grumpy_chap said:
Aaah, yes, thank you.Marcon said:
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:Grumpy_chap said:
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.littlemiss19 said:do I have the right to request the employee contributions be returned to me?
The employer contributions are usually not returned to the employee but to the employer.
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My understanding was either incorrect, or out of date.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.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards