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Missing pension contributions

Pension contributions wrapped up in an administration

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Hi,

The company I worked for went into adminstration last Nov and my pension contrs for Oct and Nov still haven't made their way to my NEST scheme. As these are my own deductions and not the company's then shouldn't they have been paid over by the administrators as it's not company money or do I just have to write these amounts off mentally? Additionally, if they do make their way into the pension scheme, which year do I include the contributions on my tax return, 18/19 or now 19/20?

Thanks

 

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30th Mar 2019 10:26

Have you asked the administrators?
It's early days yet for corrective payments

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By MDK45
30th Mar 2019 11:20

Thanks. They're not answering emails anymore, slightly unfriendly. Do I have to defer my higher rate relief until my 19/20 tax return then because there'll be a mismatch between when the conts were deducted from my pay and the NEST claim?

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30th Mar 2019 15:35

I'm confused. Presumably your earnings were reported net of pension contributions on your payslip and on your P60 (if you have received one). I'd happily go with that.

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By MDK45
to Accountant A
30th Mar 2019 15:44

Indeed they were but it seems strange claiming for contribution relief in a year when the contributions haven't even reached or will reach the fund? Or am I seeing a problem that isn't there?

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to MDK45
30th Mar 2019 16:27

MDK45 wrote:

Indeed they were but it seems strange claiming for contribution relief in a year when the contributions haven't even reached or will reach the fund? Or am I seeing a problem that isn't there?

I'm not sure what the technical position is but I'd certainly have no qualms about reporting on the basis of payslips/P60.

This suggests contributions will be "made good" if not paid by the employer:

https://www.pensionsadvisoryservice.org.uk/pension-problems/pension-secu...

My company who operated a defined contribution occupational pension scheme has become insolvent but the company failed to pay the company and employee contributions for 18 months before insolvency. How do we recover these contributions?

In this event a claim may be made to the National Insurance Fund by the insolvency practitioner for the missing employer and employee contributions due to the scheme in the 12 months leading up to the date of insolvency. For further information, you can obtain a copy of the explanatory leaflet (IL2 (REV 2)) regarding recovery of unpaid contributions from the Department for Business, Energy & Industrial Strategy (BEIS) on 020 7215 5000. For any contributions which fall outside this time limit, you and the other members of the scheme would become creditors of the employer.

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By MDK45
to Accountant A
30th Mar 2019 16:33

Thanks for that. I'll proceed as is then!

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to MDK45
30th Mar 2019 16:35

MDK45 wrote:

Thanks for that. I'll proceed as is then!

You should hassle the administrator about your contributions; I would.

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01st Apr 2019 09:31

Th Administrators will report any deductions not paid into the scheme in the 12 months pre Administration to the Redundancy Payments Office to make good the shortfall.

Any deductions over 12 months old will rank as an unsecured creditor in the Administration.

If the Administrators are not responding to your reasonable inquiries then you should follow their complaints procedure.

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