As have previously said on her , we paid £2k into the wifes personal pension at beginning of March. On checking her personal pension , the £2k has still not been credited to her account .
Phoned them about 2 weeks ago , and got the usual end of tax year and we're busy excuse , and said we should hear something soon
I know with Workplace pension the contributions have to be credited to the account within 22 days of the deduction from your wages , is there any such regulation for payments made personally direct to the pension company ?
Just want to be aware of all the facts before I phone them again
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Crediting of pension contributions
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- Lemon Pip
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- Lemon Pip
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Re: Crediting of pension contributions
Who is the provider? All providers that I have ever used, and there have been many, have credited payments within less than a week, regardless of time of year. Tax relief can take a bit longer.
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- Lemon Pip
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Re: Crediting of pension contributions
Provider is Wesleyan - policy was taken out many years ago - if I knew then what I know now , would of been with someone else , not the best of company's , very limited as to what we can do with proceeds " asked if we could take 25% tax free then draw rest down over a few years to keep below the income tax bracket , told not possible - would have to transfer to new policy which allows this ,at a cost of 3%
only options they are offering is to take a lump sum each year of which 25% is tax free, buy an Annuity , or transfer it to another company
Considering we paid the £2k in early march , its just seemed to be dragging on a bit
only options they are offering is to take a lump sum each year of which 25% is tax free, buy an Annuity , or transfer it to another company
Considering we paid the £2k in early march , its just seemed to be dragging on a bit
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- Lemon Slice
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Re: Crediting of pension contributions
Do they charge 3% on all transfers out?
I’d get it out if there if I were you!!
I’d get it out if there if I were you!!
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- Lemon Pip
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Re: Crediting of pension contributions
not worth a lot of effort now -she's retiring in July and we will take a lump sum out equivalent to state pension which with her works pension will be as good as shes earning
will run out when she gets to state pension age , so only 7 years before its gone - just they are so long winded doing anything
will run out when she gets to state pension age , so only 7 years before its gone - just they are so long winded doing anything
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