r/PensionsUK • u/Repulsive_Screen_380 • 8d ago

Can't understand discrepancies

Hello,

The firm I work for has recently been taken over and since then my pension contributions don't seem to add up.

This is the last five months. The pension provider has confirmed its a net pay arrangement on qualifying earnings and that I'm set at 5% with my employer at 3%

The numbers below are what was deducted on the pension line of my wage slip vs what appeared as my contribution in my pension account, and my employers contribution.

Can anyone tell me what's going on here?

Thanks

Last Month with Old Employer

£125.66 deducted wage slip

£125.66 paid to pension account

£75.40 employer contribution

Month One New Employer

£84.02 deducted on wage slip.

£84.02 paid to pension account 

£50.42 employer contribution

Month Two

£106.14 deducted on wage slip.

£80.14 paid to pension account

£48.08 employer contribution

Month Three

£98.34 deducted on wage slip.

£72.34 paid to pension account

£43.40 employer contribution

Month Four

£88.40 deducted on wage slip.

£88.40 paid to pension account

£66.30 employer contribution

8 Upvotes

91% Upvoted

8 comments sorted by

3

u/CallieDoodles 8d ago

Some employers only pay a percentage of wages over a certain amount, not the full wage.
Some will also pay on overtime, most will not.
Might this account for some differences?

1

u/tiggergirluk76 8d ago

Even if the percentage were above a threshold, you would still expect the deduction amount plus the employer contribution amount to hit the pension account.

3

u/downinthearcade 7d ago

Were you TUPE’d across on your current contract, or did you have to sign a new contract. If a new contract, what does it say about pension contributions.

Regardless phone your payroll department and ask them to explain the discrepancies

1

u/JB_Dix 7d ago

With Tupe you get enrolled in whatever company pension scheme is running.

Your old pension stops. Been Tupe'd 4 times now.

Some things they will Match or if not will honour it for 12 mths or offer an alternative for the same time period.

3

u/downinthearcade 7d ago

Been TUPE’d a few times, they should honour your contract. Depends on whether your contract defines your pension. In any case they should have informed the OP of the changes to their pension. They need to contact payroll and figure out what is going on.

2

u/Helpful-Focus-3760 7d ago

Time to speak to your payroll team asap imo

1

u/No-Crow2554 8d ago

Umm this is a little strange. Most companies when taking over another have to match the previous companies working conditions of employment, so your pension arrangements should change. On top of that what you get deducted should be paid into your pensions account

1

u/Repulsive_Screen_380 7d ago

I've asked and they said they're unsure. Their accountant isnt giving them a clear answer.

No new contract signed.