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My work pension contributions should be paid monthly?

2 replies

Broop · 26/01/2024 13:42

I’m having an ongoing discussion with the Department of No (company secretary/accounts dept) at work: on several occasions I’ve received notification letters from my pension provider to say that my work have stopped making pension contributions.
Each time this has happened it’s transpired that my work only pay into my pension every 3-4 months which triggers the letter from the pension company. The correct amount is paid in when they actually make the payment, but it seems they sit on my money (and presumably other employees too), making interest on it, whilst I’m losing those 3-4 months of interest/potential gain several times a year.

AIBU to say that surely this shouldn’t be allowed and that the money I’m legally entitled to should be paid into my pension every month?

FWIW we’re a company of about 30 people in the uk with a European head office who have on several occasions requested the company secretary is removed/changed…

OP posts:
munchbunch7 · 26/01/2024 13:56

The Pensions Regulator states that members pension contributions need to be paid to the pension provider by the 22nd of the month following deduction from salary. So Januarys need to be paid by 22nd Feb . Most insurers will warn employers of outstanding payments up to about 4 months outstanding and then write to members to highlight.

Broop · 26/01/2024 14:07

Interesting! Do you if it’s illegal what they’re doing? Or legal but just immoral and against guidelines?!
Question now is how I approach it at work without incurring the wrath of the she-devil that controls the purse strings.

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