not on facebook
ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (UPDATED 2017)... HERE

ANNOUNCEMENT : NEW CORONAVIRUS FORUM... HERE



Pension contributions, LEL and NOWPensions

28 Feb 2020, 16:41

Just in case anybody else is confused about pension contributions >

I left working for Angard last year and it has taken me 4 months to sort out the confusion surrounding my contributions
At the time of joining I did not get the correct welcome pack from NOWPensions
Angard do not send any information regarding contribution calculations

I was not aware that Angard pension contributions are calculated from above the Lower Earnings Limit
e.g. (LEL- currently £118 per week, £511 per month or £6136 per year)

So it is the gross salary above this limit that is included in the 3% and 5%

3% from Angard (above LEL)
5% from the employer(above LEL)

For more information look at https://www.pensionsadvisoryservice.org ... spotlights
and Automatic enrollment pdf

Pension contributions are handled by SDWorx - there is a chain Angard > SDWorx > NOWPensions
Angard do not actually take the money from the employee this is handled by SDWorx

Hope this helps somebody

Cheers

Pension contributions, LEL and NOWPensions

03 Mar 2020, 18:18

Thanks for the info. I had noticed that pension contributions are only deducted if we earn over a certain amount - so you can’t calculate what you should have paid in just by calculating a percentage of your gross earnings.

Previous page Next page


Page 1 of 1