PPRuNe Forums - View Single Post - Company pension raids - The next Maxwell?
Old 1st March 2005 | 14:14
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G7SWZ
 
Joined: Jan 2005
Posts: 18
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From: Halifax
By law (Pensions Act 1995) contributions deducted from salary must be paid over by the employer to the Trustees within 19 days of the end of the month in which they are deducted.

Hence my reference in my earlier reply to checking the auditors report in the scheme accounts to confirm that contributions are being paid in accordance with the schedule of contributions.

Where contributrions are not paid on time there is an onus upon the Trustees to report the matter to OPRA the pensions regulator.

Similarly the Auditor has an obligation to whistleblow to OPRA where he finds the contributions are not being paid on time.

Responsibility lies with the Trustees not the Administrator and all enquiries are best addressed to the Trustees.

G7SWZ
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