What do I need to do if I am late paying my pension contributions?
I am up to date with my pension scheme payments, why have I been contacted about unpaid pension contributions?
You have an ongoing legal duty to pay pension contributions into your scheme on time. The amount you pay in pension contributions is specific to your scheme. Your pension provider will send a report to The Pensions Regulator when the contributions do not match the payment amount due, and the amount remains outstanding. Your provider will also contact you about the outstanding amount.
If the pension contributions remain unpaid 14 days after the date we received the report, we will start enforcement action by issuing an unpaid contributions notice by post. Failure to pay outstanding pension contributions may result in further enforcement, including fines.
What you need to do now:
- Calculate the correct amount owed in unpaid contributions for each person in your scheme.
- Contact your pension provider to pay the contributions into your pension scheme or to discuss the amount owed.
Check for errors
If you think you are up to date with pension payments, here are a few reasons your provider may have reported you:
- You submitted a contributions schedule but did not click to pay.
- You have not updated your pension provider with details of staff who joined or left your scheme.
- You recently switched providers and have not closed the scheme with your previous provider.
- If you have changed your financial adviser, confirm they are authorised as a ‘delegate’ to upload contributions schedules and make payments to your pension provider.
Contact your pension provider if you need to dispute the amount owed or to resolve any errors.
Read about what to do if you have received an unpaid contributions notice by post. If you need to dispute the amount owed or resolve any errors, please contact your pension provider directly.