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- Jan 8, 2016
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So my wife and I were going through our finances and looking at our pension contributions.
According to our IRP5s
For both her and in 2016 and prior, we see figures next to the codes:
4001 CURRENT PENSION FUND CONTRIB (I assume this is our personal contributions)
3697 - GROSS RETIRE.-FUND. EMPLOY.INCOME (which has a figure close to my gross income)
3698 - GROSS NON-RETIRE.-FUND. EMPL..INCOME (which is confusing me because of the non-retirement part)
But these both don't appear in 2017 instead showing a single 3699 - GROSS REMUNERATION
In 2017, under deductions I see
4001 CURRENT PENSION FUND CONTRIB (which is about doubled since the year before)
4472 - EMPLOYERS PENSION FUND CONTRIBUTIONS - CURRENT (which is similar amount to the figure next to 3698 of the previous years)
So my company changed who our pensions are with at some point, which I thought maybe resulted in these changes, but I see the same for my wife's IRP5s from a different company. So was there legislation change and what would it's effects be on me?
Where do I find a record of my company's contributions prior to 2017? I see them on my payslip, but my wife says they don't appear on hers and that she read somewhere that pension fund companies don't have to disclose your contributions however there was some recent change where they do need to disclose what the "likely" figure would be at that moment should you retire or withdraw or whatever.
According to our IRP5s
For both her and in 2016 and prior, we see figures next to the codes:
4001 CURRENT PENSION FUND CONTRIB (I assume this is our personal contributions)
3697 - GROSS RETIRE.-FUND. EMPLOY.INCOME (which has a figure close to my gross income)
3698 - GROSS NON-RETIRE.-FUND. EMPL..INCOME (which is confusing me because of the non-retirement part)
But these both don't appear in 2017 instead showing a single 3699 - GROSS REMUNERATION
In 2017, under deductions I see
4001 CURRENT PENSION FUND CONTRIB (which is about doubled since the year before)
4472 - EMPLOYERS PENSION FUND CONTRIBUTIONS - CURRENT (which is similar amount to the figure next to 3698 of the previous years)
So my company changed who our pensions are with at some point, which I thought maybe resulted in these changes, but I see the same for my wife's IRP5s from a different company. So was there legislation change and what would it's effects be on me?
Where do I find a record of my company's contributions prior to 2017? I see them on my payslip, but my wife says they don't appear on hers and that she read somewhere that pension fund companies don't have to disclose your contributions however there was some recent change where they do need to disclose what the "likely" figure would be at that moment should you retire or withdraw or whatever.