Pension contributions
Hollymbf
Registered Posts: 3
Hi,
I am reconciling my employers pension scheme at the moment. We use an outside agent to process our payroll however I have identified a number of errors in how they have been calculating pension contributions.
We have a weekly payroll and I understand that the upper and lower earning thresholds should be applied to calculate pensionable pay. I think the payroll administrator has made the following errors:
£232 has been taken off 2 employee's weekly pay, however I understand that the lower earnings limit is only £116 (£232 is for a fortnight). Also, 2 employees have gross pay that exceeds the £892 upper threshold which has been correctly applied, but they have then taken off the £232 which is the lower limit for a fortnight.
Have they made an error or am I missing something? I want to be 100% sure oh myself prior to raising this with them.
Thanks in advance
I am reconciling my employers pension scheme at the moment. We use an outside agent to process our payroll however I have identified a number of errors in how they have been calculating pension contributions.
We have a weekly payroll and I understand that the upper and lower earning thresholds should be applied to calculate pensionable pay. I think the payroll administrator has made the following errors:
£232 has been taken off 2 employee's weekly pay, however I understand that the lower earnings limit is only £116 (£232 is for a fortnight). Also, 2 employees have gross pay that exceeds the £892 upper threshold which has been correctly applied, but they have then taken off the £232 which is the lower limit for a fortnight.
Have they made an error or am I missing something? I want to be 100% sure oh myself prior to raising this with them.
Thanks in advance
0
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