Contributions
What’s ‘relief at source’?
For more information about the relief at source method, please visit our pension tax webpage.
If I’m made redundant do I have pay pension contributions based on my redundancy pay?
The tax-free redundancy payment (up to £30,000), ie the lump sum you’d get for being made redundant, isn’t counted as …
Do childcare vouchers count as qualifying earnings and therefore do we have to pay pension contributions based on the value of these?
Childcare vouchers are usually given to employees via a salary sacrifice arrangement where an employee gives up the right to …
How are qualifying earnings calculated for contributions made via salary sacrifice?
If your employer is using a defined contribution scheme (which The People’s Pension is), then the qualifying earnings used to …
If I increase my contributions does the employer have to match them?
No – as long as the employer is making the minimum contribution.
If I set up a Direct Debit to increase my contributions, will my employer automatically match this contribution as well?
Your employer will not automatically match your increased contributions. Currently your employer has to contribute 3% of your qualifying earnings.
Why can’t I see any tax relief on my Online Account?
There are two reasons you might not be able to see tax relief on your Online Account. Your pension contribution …
How do I claim higher rate tax relief on my contributions?
If your pension contributions have been deducted from net pay (after tax has been deducted) and you’re a higher rate …
What’s a ‘net pay arrangement’?
For more information about the net pay arrangement, please visit our pension tax webpage.
I’ve been auto-enrolled since my employer’s staging date. Can I now take a contribution holiday?
Yes, you can cease paying contributions to the pension scheme at any time. This means your employer is no longer …