Documents for Business
In excess of 1,000 customisable documents covering every conceivable business issue.Introduction to this document
Pension contribution confirmation
Employees’ contributions into their company’s pension scheme are normally collected through the payroll each month. If your company also makes a contribution, that has to be worked out for each individual and paid over together with the employee’s contribution. However, you might well get requests from employees to confirm what was paid in a particular tax year.
Annual request
Be proactive; issue a Pension Contribution Confirmation memo to each director/employee who is a member of the company’s pension scheme, setting out their contributions in the tax year. This will help you by getting all these requests out of the way in one go, and help the individuals to check their tax code early. If they wait until they receive their annual statement from the pension provider, any underpayment of tax could be quite significant.
