Barnett Waddingham produces guide on payroll deductions

Barnett Waddingham has produced a guide for managers of occupational pension scheme contributions and administers of staff payroll.

The booklet focuses on the two main types of trust-based occupational pension scheme, defined benefit (DB) schemes and defined contribution (DC) schemes. Many parts of the guide are also relevant to other arrangements such as a group personal pension scheme.

Carole Ward, partner at Barnett Waddingham, said: “This guide has been produced to help those administering staff payrolls or making deductions from individual’s pay understand the requirements for managing pension contributions.

“This can be a complicated task yet it is important that it is done correctly or it can have detrimental implications when it comes to retirement.”

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