Member opt out refunds

When reviewing the ratio errors (the contributions are not within + or – 0.2% of the expected tiered contributions) the main reason that the employer and employee tier do not reconcile is due to “member opted out – refund given”. When completing the monthly breakdown form all three of the pensionable salary, employer contributions and employee contributions boxes should be amended accordingly in respect of the refund.

 

Last Updated: 23/10/2018 13:02