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Issue re-activating pension contributions.

  • 25-09-2019 8:30am
    #1
    WH BONNEY
    Registered Users, Registered Users 2 Posts: 512 ✭✭✭


    Hi,

    For a number of years (12) I have not paid into my pension but now want to restart contributions.

    The Pension Company have advised me that because I have a Personal Pension they cannot accept payments direct from my employer. Previously this was not the case.

    I therefore will have to get the pension deducted from my salary, transfer it to myself and then move it on to the Pension Company.

    Just seems strange that this extra step is required.

    My questions are,

    Is the information I'm being told correct ?

    Is my resolution acceptable from Revenues perspective?

    WH


Comments

  • #2
    gwalk
    Closed Accounts Posts: 1,107 ✭✭✭gwalk


    Do you have a workplace pension you can join to benefit from employer contribuions?

    could possibly transfer your personal plan in to this


  • #3
    WH BONNEY
    Registered Users, Registered Users 2 Posts: 512 ✭✭✭WH BONNEY


    No we don't have a workplace pension but I can start another with a different pension provider which will cater for employer payments.


  • #4
    gwalk
    Closed Accounts Posts: 1,107 ✭✭✭gwalk


    you should definitely join the employer option as you will benefit from their contributions and you should be able to transfer your policy accross


  • #5
    The J Stands for Jay
    Registered Users, Registered Users 2 Posts: 5,876 ✭✭✭The J Stands for Jay


    You just set up a direct debit from your own bank account; there's no involvement from your employer. You get a RAC cert from your pension provider and send it to revenue. They adjust your tax credits so your employer will deduct less tax due to tax relief on pension contributions.


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