Employers pension contribution

[sammmo]

I asked one of our companies pension trustees, how much does the company donate towards my pension..she said I pay 6percent then was telling me how much the company was paying to boost the deficit.. But when I asked again how much the firm paid she said it was more than 6 percent.. I asked if she knew how much and she said yes ..but she wouldn't tell me how much and said she didn't know why I asked..she then hung up..I was a bit shocked by this and was wondering if it's an unreasonable question to ask..

[woofgang]

It should be in your t and c of employment how much pension you can get. Companies have to make sure that that is achievable but they don't have to contribute a set amount. If they are managing the fund well, they won't have to put in so much, if they are not good at managing, they will have to put in more....it's not how much they put in, it's how much you are guaranteed to get out.

[sammmo]

Thanks for that Woofgang. Why couldn't she tell me that. I thought it was a set amount.

[woofgang]

I have no idea why she couldn't tell you that. The reason that I know that isbecausemy late husband's employers used to explain all that stuff in detail.

[buildersmate]

If you are in a defined contributions scheme (i.e. one where the eventual pension depends on the returns created by the 'pot' of money held on your behalf by the pension trustees) you will be able to get this information - it is important because the two sets of contributions (yours and your employers) go together to provide your pension.
If you are in a defined benefit scheme (that are becoming rarer than rocking-horse manure) - that is a Final Salary Scheme - you don't need to know because it has no bearing on the eventual pension you will receive. It is the trustees job together with the actuaries of the scheme to ensure the fund grows adequately to pay out the pensions.

[cathfromsaron]

i would phone back and hope to speak someone more polite!

isn't it shown on your payslips or statements?

[factor-fiction]

The employers' contribution is sometimes shown on payslips but I don't think that's the norm. The trustees should have no reason to hide the information and in my experience the information is usually made available. But I suppose if the pension payments are based on final salary or career average salary then maybe it's not something that people really need to know