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Umbrellas which offer 'Salary-Sacrifice' pensions

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    #31
    Originally posted by eek View Post
    and? while the money may be sat in their accounts for up to 4 weeks it's not like they are going to go belly up.
    Is there such a guarantee that they don’t disappear

    No thanks when I pay weekly margin, pension contribution should go where it should go.

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      #32
      Originally posted by willss3608 View Post
      Is there such a guarantee that they don’t disappear

      No thanks when I pay weekly margin, pension contribution should go where it should go.
      You may find that your pension firm may not be happy with weekly payments (a lot aren't).

      If you aren't happy head elsewhere but check you aren't asking for something that just isn't practical for other reasons and expect to pay for it as what you are asking for is not standard regardless of your own viewpoint.
      merely at clientco for the entertainment

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        #33
        Originally posted by eek View Post
        You may find that your pension firm may not be happy with weekly payments (a lot aren't).

        If you aren't happy head elsewhere but check you aren't asking for something that just isn't practical for other reasons and expect to pay for it as what you are asking for is not standard regardless of your own viewpoint.
        Ohh I didn't know that. Thank you. This particular umbrella don't charge for making pension contributions but I know many charge £6 weekly. If they only do monthly remittance then I wonder why they take weekly charges.

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          #34
          Originally posted by willss3608 View Post
          Ohh I didn't know that. Thank you. This particular umbrella don't charge for making pension contributions but I know many charge £6 weekly. If they only do monthly remittance then I wonder why they take weekly charges.
          Different companies will have different processes and rules

          So if you are paid weekly they charge you weekly for processing the payment

          They don't charge you for the pension remittance but do it as a global monthly task rather than on individual payment.

          You pick the option that's best (or cheapest) for you but I wouldn't be that concerned apart monthly payments (unless the march payment ends up in the wrong tax year).
          merely at clientco for the entertainment

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            #35
            Originally posted by eek View Post
            You may find that your pension firm may not be happy with weekly payments (a lot aren't).
            Some pension companies will only allow a monthly group pension submission too.

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              #36
              Is there any update to this? Is it only ContractorUmbrella and Clarity Umbrella that allow this customised pension sacrifice?

              Getting a straight answer from other Umbrella companies is very difficult.

              Comment


                #37
                Originally posted by agentzero View Post
                Is there any update to this? Is it only ContractorUmbrella and Clarity Umbrella that allow this customised pension sacrifice?

                Getting a straight answer from other Umbrella companies is very difficult.
                In which case you need to work out why your question is causing the umbrella firm problems because:-

                1) Do you offer salary sacrifice into my pension held at xyz is a really simple question to ask and understand
                2) A lot of firms offer it but I'm not going to keep a list here when there are better places to hold that information.
                merely at clientco for the entertainment

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                  #38
                  Ok here is a question that hopefully someone can answer as I haven't managed to get a straight answer from 3 different umbrella companies as yet. I'm switching from Ltd to Umbrella soon but I don't work regular hours. Over the lifetime of the contract I expect to work on average 3 days a week. Some weeks might be 5 days, some 3, some 0. So I tell my Umbrella co to base my salary/pension on 3 days a week - i set my pension level at a fixed amount and the rest will go on Ni,tax,margin,levy and salary.
                  So first x amount of weeks I work 3 days a week - I get the salary and pension contributions as expected. Then for the next month, I only work an average of 1 day a week. Is my salary and pension contributions adjusted down accordingly as there wont be enough funds to cover the usual salary/pension ? The month after that, I work 5 days a week. Is my pension contributions adjusted up to compensate for the previous month and then my salary bumped up as well for the extra days worked.
                  To summarise, does the Umbrella co, adjust my salary/pension contributions every payroll run depending on the money I bring in. The ones I've spoke to say they don't adjust it (and I understand they wouldn't want this overhead for £18) but if they don't I just can't see how it will work.

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                    #39
                    Originally posted by jbeer View Post
                    Ok here is a question that hopefully someone can answer as I haven't managed to get a straight answer from 3 different umbrella companies as yet. I'm switching from Ltd to Umbrella soon but I don't work regular hours. Over the lifetime of the contract I expect to work on average 3 days a week. Some weeks might be 5 days, some 3, some 0. So I tell my Umbrella co to base my salary/pension on 3 days a week - i set my pension level at a fixed amount and the rest will go on Ni,tax,margin,levy and salary.
                    So first x amount of weeks I work 3 days a week - I get the salary and pension contributions as expected. Then for the next month, I only work an average of 1 day a week. Is my salary and pension contributions adjusted down accordingly as there wont be enough funds to cover the usual salary/pension ? The month after that, I work 5 days a week. Is my pension contributions adjusted up to compensate for the previous month and then my salary bumped up as well for the extra days worked.
                    To summarise, does the Umbrella co, adjust my salary/pension contributions every payroll run depending on the money I bring in. The ones I've spoke to say they don't adjust it (and I understand they wouldn't want this overhead for £18) but if they don't I just can't see how it will work.
                    Why can't your pension contribution be a proportion of your earnings rather than a fixed amount? Is there a reason why you need it to be a fixed amount irrespective of how much you're earning?

                    Comment


                      #40
                      Originally posted by ladymuck View Post

                      Why can't your pension contribution be a proportion of your earnings rather than a fixed amount? Is there a reason why you need it to be a fixed amount irrespective of how much you're earning?
                      Because I want to max out on the Pension contributions to mitigate the hit from NI

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