Umbrella companies and pension providers Umbrella companies and pension providers - Page 8
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  1. #71

    Some things in Moderation

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    Quote Originally Posted by northernladuk View Post
    Pendragon as in the Umbrella company Pendragon?
    *sucks teeth...*
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
    - Voltaire/Benjamin Franklin/Anne Frank...

  2. #72

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    Quote Originally Posted by Jase View Post
    I am moving from my LTD Co to an Umbrella as new client will not allow a PSC. I currently pay in to a Standard Life SIPP so went to PayStream, however they will only allow the following pension plans:
    • Aegon
    • AJ Bell
    • Aviva
    • BestInvest
    • Hargreaves Lansdown
    • Legal & General
    • Old Mutual Wealth
    • Prudential
    • Royal London
    • Scottish Widows
    • Transact


    On further investigation, Pendragon will allow any Pension Plan, including Standard Life, so I have passed on to my IFA on how to progress the salary sacrifice arrangement with Pendragon and Standard Life.
    Also very interested in the answer (if any) to this question. My pension is with Standard Life so facing exactly the same scenario.

  3. #73

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    One other thing to check on is the situation with signatures.....I chose an Umbrella after checking that they dealt with my existing SIPP provider and the answer was yes....However after several months of faffing around the SIPP provider won't accept an electronic signature and wants a wet signature. Umbrella company say they are all working remotely due to the Covid situation and can't provide a wet signature so I am still pension contribution less at the moment as they can't agree between themselves....So would be worth checking if you don't want to end up in the same boat !!

  4. #74

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    Paystream have been excellent. Now starting second 6 month contract with them.
    I get monthly salary sacrifice transferred to my old SIPP.
    PAYE is weekly, and payslip lists pension contribution. Very clear.

  5. #75

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    Default Payment and Pension Salary Sacrifice towards End of FY

    Quote Originally Posted by Tynos View Post
    Paystream have been excellent. Now starting second 6 month contract with them.
    I get monthly salary sacrifice transferred to my old SIPP.
    PAYE is weekly, and payslip lists pension contribution. Very clear.
    Could you tell how did the payments and pension salary sacrifice work with paystream for march/april. Trying to figure out my gross pay until 5th April 2021 and hence the pension contribution per day. Looks like pay is weekly, but the pension contribution is monthly. So, I am not very sure how many days could be considered as this years pay and how many days of them as pension contribution for this year. Paystream have been very helpful, but I am still a bit confused until I see a working example from someone.

  6. #76

    Should post faster


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    Quote Originally Posted by newbieunderthesun View Post
    Could you tell how did the payments and pension salary sacrifice work with paystream for march/april. Trying to figure out my gross pay until 5th April 2021 and hence the pension contribution per day. Looks like pay is weekly, but the pension contribution is monthly. So, I am not very sure how many days could be considered as this years pay and how many days of them as pension contribution for this year. Paystream have been very helpful, but I am still a bit confused until I see a working example from someone.
    Not sure I fully understand your question.

    But in my case Paystream made a Pension Payment to my SIPP on the 3rd April 2020. This included all outstanding pensions deductions made to that point including that day's pay. The 3rd April was the last payday of the Tax Year. I don't think you should count days in the tax year, rather what tax year the pay dates fall into as the determining factor.

  7. #77

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    Quote Originally Posted by Acme Thunderer View Post
    Not sure I fully understand your question.

    But in my case Paystream made a Pension Payment to my SIPP on the 3rd April 2020. This included all outstanding pensions deductions made to that point including that day's pay. The 3rd April was the last payday of the Tax Year. I don't think you should count days in the tax year, rather what tax year the pay dates fall into as the determining factor.
    For pension contributions contribution limits, it is the day it is paid to the pension provider, not the date of the payroll. This may be an issue for Umbrella company "employees" if they roll up all pensions in payslips over a month and pay sometime in the first week of the following month, meaning the March pension deductions could fall into one of 2 tax years. Really difficult if you are close to the limit.

  8. #78

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    Default Paystream Umbrella - SIPP

    I started with Paystream in March but they pay Pension salary sacrifice on the 19th of the following month and it usually takes at least 2 days to get into my SIPP.
    So my SIPP didn't receive any contribution in 2019-2020 tax year.
    Since I setup my SIPP a few years ago I can use spare allocation from previous 2-3 years, so I don't have to worry about going over the annual limit next April.

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