Find out how much members pay as a percentage pensionable earnings towards the cost of each scheme.
You have to make an employer contribution towards all your employees’ pension arrangements.
The partnership pension account is an occupational pension scheme under a Master Trust. It is therefore vital that you follow the correct procedures.
If you make a partnership or AVC overpayment to the pension provider, you can recoup the contributions.
If you deduct too many contributions from a member’s salary, this should be treated as an underpayment of salary.
There are times when a member is treated as still building up reckonable service despite being unpaid.
Those contributing to partnership or making AVCs may ask to change the rate of their investment or stop altogether.
When you make a retrospective pay award that straddles more than one financial year, you must calculate the arrears of employer and member contributions.