Reply to: Hopeful return to the fold

[LisaContractorUmbrella]

Isnt that just a 1% thing?

Wont most contractors opt out anyways?

Maybe but they all have to be signed up regardless - they then have the option to opt-out

[CoolCat]

Shouldn't worry - it will all change with auto-enrolment anyway

Isnt that just a 1% thing?

Wont most contractors opt out anyways?

[LisaContractorUmbrella]

Maybe setup with a regular monthly payment of a nominal amount, say 10 quid a month, and pay rest up to given percentage as a one off payment per month? That way pension provider gets the monthly payment agreed, but the contractor gets to put in the 10% (rather than fixed amount) that he has in mind... And run the one off payments through payroll like anything else?

Just thinking out loud now

Shouldn't worry - it will all change with auto-enrolment anyway

[CoolCat]

One off payments is one thing - to sign up to a regular contribution and then chop and change as you see fit is something different but, to be honest, this would really be a question for pensions providers rather than your umbrella company - we can only work within the bounds of the schemes that they offer.

Maybe setup with a regular monthly payment of a nominal amount, say 10 quid a month, and pay rest up to given percentage as a one off payment per month? That way pension provider gets the monthly payment agreed, but the contractor gets to put in the 10% (rather than fixed amount) that he has in mind... And run the one off payments through payroll like anything else?

Just thinking out loud now

[LisaContractorUmbrella]

Re "I don't think any provider would operate a scheme that allowed you to contribute as and when you felt like it" most pension providers are happy with "one off" payments and are as happy to process them as "regular monthly payments". Just make every single payment a "one off" and then you can vary the amount month by month?

One off payments is one thing - to sign up to a regular contribution and then chop and change as you see fit is something different but, to be honest, this would really be a question for pensions providers rather than your umbrella company - we can only work within the bounds of the schemes that they offer.

[CoolCat]

Re "I don't think any provider would operate a scheme that allowed you to contribute as and when you felt like it" most pension providers are happy with "one off" payments and are as happy to process them as "regular monthly payments". Just make every single payment a "one off" and then you can vary the amount month by month?

[LisaContractorUmbrella]

I think in umbrella land, there is market for a different approach. Agree to pay expenses before pension (and let the pension company take a hike if they have a problem with that, I am sure some pension company could be got to agree to this). And ideally make the pension contribution a % of either invoices or pay, rather than a fixed amount per month. The only problem I can see is with the commission the folk advising on the pension would get, but then thats not my top concern.

I realise many payroll systems are not setup to make this easy.

It's not really possible to have a different approach unfortunately - if you sign up to a pension scheme you make a commitment to make regular contributions - I don't think any provider would operate a scheme that allowed you to contribute as and when you felt like it. However, our scheme does allow contributions as a percentage of your earnings which may be the solution you are looking for.

[CoolCat]

If you sign up to a pension you will have an obligation to make contributions to it on a monthly basis; the pensions provider will assume that these contributions will be made for the lifetime of the scheme. It is not common for people to make contributions irregularly as it will affect the return on the scheme (IANAIFA but this is as I understand it). If you advised us, in a particular month, that you did not wish to make a contribution to your pension then we would advise the provider and would not make the deduction through payroll. If, however, we were not notified we would make the deduction for the pension before processing expenses.

HTH

I think in umbrella land, there is market for a different approach. Agree to pay expenses before pension (and let the pension company take a hike if they have a problem with that, I am sure some pension company could be got to agree to this). And ideally make the pension contribution a % of either invoices or pay, rather than a fixed amount per month. The only problem I can see is with the commission the folk advising on the pension would get, but then thats not my top concern.

I realise many payroll systems are not setup to make this easy.

[LisaContractorUmbrella]

Hello Lisa

Could you give me your direct email please. I joined ContractUmbrella recently and i am having a couple of issues already. .I look forward to hearing from you.

Of course - lisa@contractorumbrella.com

[LisaContractorUmbrella]

You will have your arm ripped off and then be beaten senseless with it, but yes, you can complain to Lisa directly if you wish.

[LisaContractorUmbrella]

and can you pay expenses before pension ? or do you do it as above?

If you sign up to a pension you will have an obligation to make contributions to it on a monthly basis; the pensions provider will assume that these contributions will be made for the lifetime of the scheme. It is not common for people to make contributions irregularly as it will affect the return on the scheme (IANAIFA but this is as I understand it). If you advised us, in a particular month, that you did not wish to make a contribution to your pension then we would advise the provider and would not make the deduction through payroll. If, however, we were not notified we would make the deduction for the pension before processing expenses.

HTH

[Trevor1967]

Respond to complaints? Yes definitely - we have a complaints procedure and, ultimately, if anyone isn't happy with our service for any reason they can always email me direct.

Hello Lisa

Could you give me your direct email please. I joined ContractUmbrella recently and i am having a couple of issues already. .I look forward to hearing from you.

[northernladuk]

Respond to complaints? Yes definitely - we have a complaints procedure and, ultimately, if anyone isn't happy with our service for any reason they can always email me direct.

You will have your arm ripped off and then be beaten senseless with it, but yes, you can complain to Lisa directly if you wish.

[CoolCat]

Respond to complaints? Yes definitely - we have a complaints procedure and, ultimately, if anyone isn't happy with our service for any reason they can always email me direct.

and can you pay expenses before pension ? or do you do it as above?

[LisaContractorUmbrella]

does ur umbrella do this? just out of interest?

Respond to complaints? Yes definitely - we have a complaints procedure and, ultimately, if anyone isn't happy with our service for any reason they can always email me direct.