Rising to the net-pay challenge: It's down to you

David Brooks says schemes must think now about helping members claim the top-ups

clock • 3 min read
David Brooks is technical director at Broadstone
Image:

David Brooks is technical director at Broadstone

The net-pay anomaly has been in the “too difficult” box for a good number of years culminating in a call for evidence that ran through the summer and into the autumn of 2020.

In brief, the net pay anomaly exists because there are two ways members can get the tax relief into the scheme. One way is via the employer's payroll so that contributions are paid before the deduc...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Aon DC tracker shows rise in retirement outcomes over Q1

Aon DC tracker shows rise in retirement outcomes over Q1

Tracker rises to 60.0 over the quarter following positive investment returns

Jasmine Urquhart
clock 13 June 2024 • 2 min read
Smart Pension launches diversity in workplace pensions campaign

Smart Pension launches diversity in workplace pensions campaign

Campaign follows on from launch of Smart’s Shariah-compliant halal scheme

Martin Richmond
clock 13 June 2024 • 1 min read
People's Partnership unveils plan for 'fairer' pensions system

People's Partnership unveils plan for 'fairer' pensions system

Provider says its proposals would put savers at the ‘heart’ of pensions policy

Martin Richmond
clock 07 June 2024 • 3 min read
Trustpilot