I took a job on 14k a year. When I went my induction I was told this included 5% pension contribution from my employer. They do not have a pension scheme set up , but pay the 5% so that employees can invest in a pension of their own, until 2016 when the company set one up. To be honest all staff simply use this as part of their salary with no one actually using the extra monies for a pension.
My wage slip has no mention of this pension payment, it simply says salary £x, but my boss tells me that when the pension begins in 2016, the 5% will then become the company pension contribution, thus reducing my salary by said 5%.
It all sounds a bit suspect to me but my main question is do I tell tax credits that my salary includes this pension contribution? It's not on my payslip but it is mentioned in my contract.
Or as I don't use this extra for a pension will they conclude that it is part of my salary?
Any help welcome. :-)
My wage slip has no mention of this pension payment, it simply says salary £x, but my boss tells me that when the pension begins in 2016, the 5% will then become the company pension contribution, thus reducing my salary by said 5%.
It all sounds a bit suspect to me but my main question is do I tell tax credits that my salary includes this pension contribution? It's not on my payslip but it is mentioned in my contract.
Or as I don't use this extra for a pension will they conclude that it is part of my salary?
Any help welcome. :-)
