Employer contribution question

rawn

Hi all,

I only started paying into my pension this year. I signed up for 5% and my employer matches this. Yesterday I got an email from my pension provider saying they now have a login portal to keep track of everything, so I signed up and logged in. It shows my contributions but my employer contribution is 0. Do I need to confront my employer, or do they pay it in a lump sum once a year or something?

Addle

Just ask your employer or the broker how it operates the scheme rather than ‘confront’.

rawn

Addle wrote: »

Just ask your employer or the broker how it operates the scheme rather than ‘confront’.

Sorry yes, "confront" was a poor choice of words.

I was just wondering if it is unusual, I only started paying into it in June of this year. The person who looks after it is on annual leave so just wanted to check

Liam D Ferguson

It would be usual that the employer contributions are paid each month at the same time as the employee contributions. I'm with the other replies above - have a chat with the employer and ask for clarification. Post back here how you get on.

Boardnashea

My employer is invoiced annually based on salary on a certain date (end of Mar I think). I'm not sure if it a lump sum payment following invoice or an reg monthly/quarterly payment

coylemj

From P.3 of the Pensions Authority document Remittance of Contributions (222KB PDF file)


1. When did the provisions regarding remittance of contributions become effective?

The Minister for Social and Family Affairs announced on 24 October 2002 that the provision of the Pensions Act requiring employers to remit contribution to the trustees of occupational pension schemes within a specified timescale will be brought into effect from 1 January 2003

2. <Describes the legal situation prior to the above provision coming into effect>

3. What contributions are affected by the requirement?

All employee contributions deducted from the employee’s wages/salary must be remitted to the trustees or another person on their behalf within 21 days from the end of the month in which the deduction was made. All employer contributions payable in respect of a defined contribution scheme and expressed as a cash amount or as a percentage or proportion of an employee’s wages/salary and payable in respect of that employee, must be paid within 21 days of the end of each month to the trustees of the scheme or another person on their behalf.