Good afternoon
Opinions and advice are kindly requested: my UK employer was supposed to provide a pension fund to me as per my permanent employment contract - my contract stipulates that they will match my contributions up to a max of 5%. I live and work in Ireland and am the only employee here. For 4 years they have faffed and stalled but now they have finally told me that they are ready to set up an Executive Pension Fund. They had assured me during the intervening years that any contributions would be back-dated - they have just told me that they will indeed back-date but only to match whatever lump sum I am ready to put into this new scheme myself. Does anyone have advice as to what my response should be? They are playing with the idea of providing me with an interest-free loan to cover my portion but I am extremely loathe to be beholden to them for another 4 years or so while I 'catch up' my contributions (and I think there are tax implications?)
Thanks!!
Opinions and advice are kindly requested: my UK employer was supposed to provide a pension fund to me as per my permanent employment contract - my contract stipulates that they will match my contributions up to a max of 5%. I live and work in Ireland and am the only employee here. For 4 years they have faffed and stalled but now they have finally told me that they are ready to set up an Executive Pension Fund. They had assured me during the intervening years that any contributions would be back-dated - they have just told me that they will indeed back-date but only to match whatever lump sum I am ready to put into this new scheme myself. Does anyone have advice as to what my response should be? They are playing with the idea of providing me with an interest-free loan to cover my portion but I am extremely loathe to be beholden to them for another 4 years or so while I 'catch up' my contributions (and I think there are tax implications?)
Thanks!!