Occupational Pensions

(asked on 5th March 2019) - View Source

Question to the Department for Work and Pensions:

To ask Her Majesty's Government what evidence and statistics they hold in relation to automatic enrolment pension contribution data errors.


Answered by
Baroness Buscombe Portrait
Baroness Buscombe
This question was answered on 12th March 2019

I refer the noble Baroness to my answer of 12th November 2018.

Employers, trustees, managers and providers must keep certain records including details of the pension contributions payable in each relevant pay reference period by an employer to the scheme, and the amount payable. This includes the contributions due on the employer’s behalf and deductions made from an individual’s earnings.

The Pensions Regulator has published codes of practice on its website setting out how trustees of defined contribution pension schemes and managers of personal pension schemes should monitor the payment of contributions, provide information to help members check their contributions and report material payment failures to The Pensions Regulator. However, The Pensions Regulator does not hold statistics on contribution data errors. The Pensions Regulator have payment failure reports from pension providers but these do not necessarily represent data errors.

In addition, The Pensions Regulator publishes regular assessments of its automatic enrolment compliance and enforcement activities as well as an annual commentary and analysis report, both of which are available on its website.

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