Reply With QuoteIs it confidential? If not, I’d post the query.
Loads of very knowledgeable people around who know a lot about pensions, but not necessarily pension experts.
That wouldn't mind giving me a spot of advice please?
Via pm?
Is it confidential? If not, I’d post the query.
Loads of very knowledgeable people around who know a lot about pensions, but not necessarily pension experts.
Well kind of…my lads company pension hasn’t been paid properly since covid. He's spoken to his employers who seem to take issue with him asking them all the time about it and keep on promising it will be sorted. He's still getting the money taken from his pay every month but it’s not being placed in to his Nest Pension.
He was oblivious to the fact until he saw loads of messages in the Nest system telling him that his company had been reported but nothing appears to be happening. We think he's missing around 3k (ish) of missed payments in to his pension on top of any lost interest etc. payments equal his and his employers contributions.
Im not after speculation around his company but would need some direction about trying to get this sorted…i have already tried the Pensions Ombudsman but they said that investigations can take years and they have no real power anyway…what’s the f**k**g point of that?
The Obudsman are generally funded by the companies that they are meant to independently hold to account. Gamekeeper turned poacher, anybody?Originally Posted by Franky Four Fingers
I had a shocking experience with the Energy Ombudsman, who, despite it being an obvious case were completely and utterly sh1te. I got it over the line in the end.
Looks like the Pension Ombudsman isn’t much better with 96% 1-star reviews on Trustpilot.
https://uk.trustpilot.com/review/www...budsman.org.uk
Good luck and I’m sure someone will be along with advice.
Christ, i would never have bothered if id have known…what a balls up Thanks anyway
I am an employer and use Nest. At the very least I think I would opt out for now it doesn't sound right they are taking his money and not sending it to nest.
Or he could opt out and contribute directly for now?
We only have couple of months to pay Nest eg this months contributions are due by 9th April which is when we pay them.
Surely it's a matter for the revenue, if they are taking money from his wages, not taking the tax, and then not investing it in his pension, it's probably fraud
I use NEST too and you get very stroppy emails from them if you don't submit in the window they send. Having said that I'd not really thought what would really happen if you didn't.
Money is deducted from his salary so if that isn't being repaid then it amounts to theft really. There is also their contributions as well which should be going in there.
Late payments should be reported to the Pensions Regulator so I'd be inclined to look there to see what action can be taken/reported.
https://www.thepensionsregulator.gov.uk/
Shocking behaviour by the employer.
https://www.thepensionsregulator.gov...0next%20month.
”However the law requires that when you deduct contributions from your staff's pay you must pay these to your staff pension scheme no later than the 22nd day (19th if you pay by cheque) of the next month.”
https://www.pensions-ombudsman.org.u...-contributions
Is your son in a union? They might me able to help/advise.
This is a massive breach that demands restitution as not only has your lad missed out on pension contributions, he's missed out on significant market growth since Covid.
Firstly make sure he has everything in writing, stating dates and amounts.
Then whistleblow to the Pensions Regulator who can impose fines. Then I'd go to the Pensions Ombudsman for restitution but that will take a while.
All at the same time looking for A a new job and B an employment lawyer as the organisation may seek to dismiss him but they seem such a bunch of morons that they'll no doubt do it in an illegal way and your son can claim at tribunal an additional sum.
If they’re flouting the law so blatantly on this, one wonders what else is going on. Easy to say but getting out seems to be a reasonable first step.
Last edited by David_D; 27th February 2024 at 13:14.
Red flag that the company has cash flow issues and may be at risk of folding. Suggest checking whether their filing submissions are up to date and what their most recent accounts look like on Companies House.
Appreciate your lad wouldn't want to be seen by his employer as a troublemaker, but hopefully he can approach the head of HR (or MD) and express his concerns in a reasonable manner - try to agree a deadline for making the catch up payments and mention that if such is missed then he'll have no alternative other than reporting to the regulator.
His payslips will show these figures (we use Sage but I am sure all are the same)
Nest Corporation - EE
Nest Corporation - ER
Agreed I would be quite worried about them, and I doubt they will pass audit when this comes around (assuming they are audited) as our auditors always check a few random pay months and the corresponding bank transactions.
Thanks for the replies
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This^^^^^^^^
My Brother in Law found himself in a similar position in a company he worked for many years ago. Gave them time to put things right but they didn't. In the end he took them to the small claims court and was awarded in his favour but he still got nothing from them as they refused to pay!
He was young at the time, but in retrospect he says he should have pursued it with a solicitor. He did though find another job and never looked back.
Best Regards - Peter
I'd hate to be with you when you're on your own.
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