My emplyer currently contributes 8% to my pension, with me adding a further 7% (to bring it to the maximum 15%). Recently, I was changed over from a PRSA to a defined contribution scheme. I thought i had a coupe of extra € in my pay packet thi smonth, but didn't think too much of it.
For some reason the company that deals with our salaries (I work for a US company, large financial company in Ireland are employed to sort out salary/tax etc.) didn't send out our pay slips, so i requested that they be sent. Received it the other day and notice that my personal contribution has not been deducted. The 8% emplyer contribution has. Looked at my salary slip from last month and see the same happened also (didn't notice it as i got a fairly decent bonus).
Question is, am I obliged to tell my company? At the moment, cash flow has been tight due to some unforseen events, so if I am honest the extra few hundred is appreciated. If I contact my company say in February, can they make me add in my contributions to the fund? I am eager to keep up my contributions as I know the importance of having a decent pension fund in place, but don't want to be hit with a demand from my company for say €1500 in a couple of months (or if I am, could I arrange to pay this in monthly installments?).
I am guessing that where the PRSA was transferred to a DC scheme there was some confusion somewhere.
For some reason the company that deals with our salaries (I work for a US company, large financial company in Ireland are employed to sort out salary/tax etc.) didn't send out our pay slips, so i requested that they be sent. Received it the other day and notice that my personal contribution has not been deducted. The 8% emplyer contribution has. Looked at my salary slip from last month and see the same happened also (didn't notice it as i got a fairly decent bonus).
Question is, am I obliged to tell my company? At the moment, cash flow has been tight due to some unforseen events, so if I am honest the extra few hundred is appreciated. If I contact my company say in February, can they make me add in my contributions to the fund? I am eager to keep up my contributions as I know the importance of having a decent pension fund in place, but don't want to be hit with a demand from my company for say €1500 in a couple of months (or if I am, could I arrange to pay this in monthly installments?).
I am guessing that where the PRSA was transferred to a DC scheme there was some confusion somewhere.