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
Employer won't let me increase my contribution
Comments
-
Thanks to all for the replies.
I was just hoping to not have to do anything manually.
If I do have to make manual payments then I think I would rather do it into my SIPP than NEST.0 -
I asked this question at work and got told that the sage software asked for the contribution percentage and this was set for every employee. If all its ee's wanted different rates then the software couldn't handle it.Year 2019 (1,700/£17000mortgage repayment)Overall mortgage (71,400/165568) (44
.1%) (42/100) payments made. Total paid 2019 year £1,700
Total paid 2017 year £15,300Total paid 2018 year £13,6000 -
It is definitely possible with NEST to increase the % you pay. I know because I have done so. You can also make additional contributions via direct debit (min £10)Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0
-
Might be off the mark here but perhaps there is some misunderstanding due to the terminology used? Its not your employee contribution that you want to increase - employee contributions are a set %.What you want to do is make an additional voluntary contribution (AVC). It's possible that if you were talking to someone who deals with HR/Payroll in such a small company that they may not really understand pensions so didn't realise what you are asking.0
-
tizerbelle wrote: »Might be off the mark here but perhaps there is some misunderstanding due to the terminology used? Its not your employee contribution that you want to increase - employee contributions are a set %.What you want to do is make an additional voluntary contribution (AVC). It's possible that if you were talking to someone who deals with HR/Payroll in such a small company that they may not really understand pensions so didn't realise what you are asking.
Ah, now that is very interesting. I wasn't aware of that terminology. I will try again!
Many, many thanks!0
This discussion has been closed.
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
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards