Originally posted by eek
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Reply to: JSA umbrella and Aegon pension
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Previously on "JSA umbrella and Aegon pension"
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Originally posted by richt5a View PostI'm not sure if this relates to your query but I had a call from JSA yesterday who said they couldn't work with Standard Life, Aviva or Aegon on a Salary Sacrifice Pension basis as those pension companies would only accept payments by Direct Debit and JSA will only operate by Bank Transfer.
JSA's argument, I was told, being they weren't prepared to set up DD's on the basis of - Admin effort on their part but more importantly a Direct Debit will always pay out, from a JSA bank account, and if you don't work for a period (of a week or two or more) in a month there may not be enough income from your work in a month to cover the Direct Debit payment from their bank account.
Anyone know if that is a common issue with any other Brollies - as my pension is currently with Standard Life.
JSA paid by bank transfer to Aegon. Now I have switched providers and they pay by bank transfer to Fidelity (SIPP). Pension companies seem to only allow fixed amounts by direct debit for a monthly scheme, however, they accept bank transfer for one-off and variable payments, which can be made at any time, such as once a month. You will need to fill in the pension company's one-off payment paperwork every month for the amount transferred. I have the dates on the paperwork in pencil and just change, scan, and upload each month as soon a JSA tell me the amount.
However, with Aegon, JSA are not meeting the pension anti-money laundering requirements and therefore payments are in a holding account. I am trying to resolve this but neither JSA nor Aegon are willing to compromise.
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Originally posted by richt5a View Post
Anyone know if that is a common issue with any other Brollies - as my pension is currently with Standard Life.
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Originally posted by richt5a View PostI'm not sure if this relates to your query but I had a call from JSA yesterday who said they couldn't work with Standard Life, Aviva or Aegon on a Salary Sacrifice Pension basis as those pension companies would only accept payments by Direct Debit and JSA will only operate by Bank Transfer.
JSA's argument, I was told, being they weren't prepared to set up DD's on the basis of - Admin effort on their part but more importantly a Direct Debit will always pay out, from a JSA bank account, and if you don't work for a period (of a week or two or more) in a month there may not be enough income from your work in a month to cover the Direct Debit payment from their bank account.
Anyone know if that is a common issue with any other Brollies - as my pension is currently with Standard Life.
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Originally posted by measterbrook View PostIs anyone here using JSA Umbrella and is paying via salary sacrifice into an Aegon pension? I want to check if what JSA and Aegon are telling me is correct. This is an issue only related to JSA and Aegon.
JSA's argument, I was told, being they weren't prepared to set up DD's on the basis of - Admin effort on their part but more importantly a Direct Debit will always pay out, from a JSA bank account, and if you don't work for a period (of a week or two or more) in a month there may not be enough income from your work in a month to cover the Direct Debit payment from their bank account.
Anyone know if that is a common issue with any other Brollies - as my pension is currently with Standard Life.
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Originally posted by measterbrook View PostNo, they banned LtdCo and requested Umbrella at the same rate. I walked. So did too many others. Two months down the line they had been forced to allow home working by Covid and offered an increased rate - I accepted on the condition of home working mornings only. It would be difficult to show it was the same working conditions before and after the gap
Hopefully HMRC have lower hanging fruit to pick, and haven't they re-deployed all the IR35 investigators onto all the Covid fraud - that will keep them occupied for years.
If there is money to be had in these times I'd have thought there will be MORE focus on investigations not less right now.
Anyway, I still have my "HMRC confirms outside IR35" letter from the conclusion of the last "records check" they tried on me.
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Originally posted by eek View PostNice IR35 case there were HMRC to come calling..
Anyway, I still have my "HMRC confirms outside IR35" letter from the conclusion of the last "records check" they tried on me.
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Originally posted by rootsnall View PostSurely they are now paying NI if using an umbrella
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Originally posted by measterbrook View PostNot at the same time. I switched pension providers during my "employment"* with JSA.
However, there is nothing legally that prevents contributing to 2 pension schemes, but umbrella companies seem to have a problem with just one, so I wouldn't try getting them to do 2 at the same time. Actually a very long time ago when I worked as an employee I did contribute to 2 penson schemes at the same time - a fixed defined benefit scheme and a variable defined contribution (AVC) scheme.
*Legally it may be employment - but to me it is outsourcing of payroll to get round a mid-contract client ban on Ltd Co contractors. I don't feel like an employee, I don't get any of the benefits of employment, so to me it is not employment.
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Originally posted by eek View PostHang on JSA are paying into 2 different pensions?
However, there is nothing legally that prevents contributing to 2 pension schemes, but umbrella companies seem to have a problem with just one, so I wouldn't try getting them to do 2 at the same time. Actually a very long time ago when I worked as an employee I did contribute to 2 penson schemes at the same time - a fixed defined benefit scheme and a variable defined contribution (AVC) scheme.
*Legally it may be employment - but to me it is outsourcing of payroll to get round a mid-contract client ban on Ltd Co contractors. I don't feel like an employee, I don't get any of the benefits of employment, so to me it is not employment.
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Originally posted by measterbrook View PostJSA are paying into my Fidelity SIPP without a problem. I know other contractors with JSA using other pension providers. I need to know if anyone is using JSA+Aegon. I suspect not otherwise I would not be having a problem, but I thought it would be worth asking.
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Originally posted by northernladuk View PostThat's quite a specific setup. Can't it be opened it to JSA customers with other pension providers for more takers?
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Originally posted by eek View PostIf both JSA and Aegon are giving you the same story - surely it's accurate...
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