When will the company receive pension refunds from opt-out contributions?
This
will vary depending on your pension provider, and Pay Check have no involvement in
return of funds.
If you have one of our fully managed pension services, the only involvement we have in the return of funds is uploading the pension files, which is sometimes the catalyst to tell your provider a refund is needed. That is not the case with all providers, such as Legal & General, where the employee must opt out through their own employee portal.
You will need to contact your pension provider directly if you believe you are due a refund that has not been returned to your company account. |
Related Articles
When will our employee's receive a pension refund?
Provided the employee has opted out within the appropriate time frame, Pay Check will refund this through the payroll following confirmation of opt out.
When are pension reports returned?
Pension reports will be returned with your payroll reports for the month, or following your approval of the payroll.
How does an employee opt-out of the company pension scheme?
In order to opt out of the company pension scheme, you will either need to speak to your employer, or directly opt out through the chosen pension provider - the process can vary between pension schemes.
When are my pension reports uploaded to the provider?
Pension reports are uploaded during the two weeks following the tax month. Please note that this is an additional service provided by Pay Check, and if you would like to know more please contact the support team by raising a query.
Pay Check - September 2020 Newsletter
We’re writing to remind you about changes to the Coronavirus Job Retention Scheme (CJRS) and what this means for you. From 1 September HMRC will now pay 70% of usual wages up to a cap of £2,187.50 per month for the hours furloughed employees do not ...