Will late payments from employer affect my pension?

lizferris1984 · 7 April 2019 at 11:44AM

I've just started a new job with auro enrollment pension. My employer is over 90 days late with paying contributions. I have spoken to him about it & he says it will be paid in asap. Just wondering if this has any overall effect on my pension, other than he's in breach of the rules?

MovingForwards · 7 April 2019 at 1:02PM

Each job I've been in since auto enrollment appeared I've had to be employed by them for 3 months before joining or opting out.

How long have you been in your new job?

Paul_Herring · 7 April 2019 at 8:51PM

Just wondering if this has any overall effect on my pension, other than he's in breach of the rules?

Only the potential loss of any rise in whatever you're purchasing within the pension in the period between when the money should have got to your pension fund, and when it actually does.

Given the amounts likely concerned and the time compared to how long they'll be in there until you draw a pension, I shouldn't imagine it's a great deal in the grand scheme of things.

However, possibly of more concern, is if this is an indication of something that may be an ongoing problem, or is simply because you've just started and they're fiddling about with the initial paperwork.

lizferris1984 · 8 April 2019 at 12:29AM

MovingForwards wrote: »

Each job I've been in since auto enrollment appeared I've had to be employed by them for 3 months before joining or opting out.

How long have you been in your new job?

Started the full time job in January, been enrolled since January. Have worked for the employer for over 3 years, but prior to January as a contractor.

lizferris1984 · 8 April 2019 at 12:31AM

Paul_Herring wrote: »

Only the potential loss of any rise in whatever you're purchasing within the pension in the period between when the money should have got to your pension fund, and when it actually does.

Given the amounts likely concerned and the time compared to how long they'll be in there until you draw a pension, I shouldn't imagine it's a great deal in the grand scheme of things.

However, possibly of more concern, is if this is an indication of something that may be an ongoing problem, or is simply because you've just started and they're fiddling about with the initial paperwork.

Thanks for this. As far as I can tell it is fiddling with paperwork! I've been told a few times it will all be paid in after April 6th, so I'm sure it will be. As stated above have known my employer a long time, and he's always been trustworthy with everything. My only concern was just about if the lateness affected my pension overall. I've never had a pension fund before, I was previously self employed. Thank you for the input.

Will late payments from employer affect my pension?

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