Giant Umbrella - Pension

**eek** · 1 March 2023, 14:01

Originally posted by Cameron1590 View Post

Hello,

Newbie to contracting here and due to start my first assignment in the next couple of weeks.

I have just spoken to Giant regarding my pension and want to pay £1k a month into my pension plan. The lady at giant said that I could only pay 4% (as standard) via the payroll run everymonth and any additional contributions would need to be paid manually via the pension providers portal.

Just wanted to sense check this was the case? In all honesty it felt like she wasn't really listening to my question.

Thanks,

Cam

She clearly wasn't. Go back and ask them how you can make a fixed pension contribution via salary sacrifice...

Because literally the only advantage an umbrella offers over agency payroll is salary sacrifice into a pension.

**youngguy** · 4 March 2023, 09:43

Originally posted by Cameron1590 View Post

Hello,

Newbie to contracting here and due to start my first assignment in the next couple of weeks.

I have just spoken to Giant regarding my pension and want to pay £1k a month into my pension plan. The lady at giant said that I could only pay 4% (as standard) via the payroll run everymonth and any additional contributions would need to be paid manually via the pension providers portal.

Just wanted to sense check this was the case? In all honesty it felt like she wasn't really listening to my question.

Thanks,

Cam

Some umbrellas refuse to do a fixed amount and will only do a % of your income per payslip, meaning the amount into your pension changes each time.

No idea why they'd choose 4%. Brollys do have to pay you a NMW, but everything above that should be able to be pensionable.