There are statutory deadlines for paying contributions to us. You need to make sure pension contributions can be collected by the 22nd of the month after the deductions were made. This means you need to have uploaded the contribution details to us, and made sure your Direct Debit Instruction is up to date, well in advance.
Keeping on top of collecting and managing your contribution payments will ensure money is credited to members’ pension savings promptly.
What happens if my contributions are late?
The Pensions Regulator (TPR) is interested in all employers who pay contributions late. We’re legally obliged to monitor your contribution payments and report to TPR if contributions are more than 90 days late (or there’s some other significant payment failure). We also have to tell your employees.