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Monitoring pension contributions Q & A’s

The requirement for monitoring pension contributions

The Pensions Regulator requires trustees and managers of pension schemes to monitor contributions and identify underpayments or overpayments.

For this reason, Fidelity produces regular contributions monitoring reports to show any members whose expected and actual contributions differ by more than a pre-determined amount or percentage, known as the tolerance limit. The expected contribution rates and amounts used in the contributions monitoring report are based on the latest information in Fidelity’s records.

Please see some frequently asked questions below.

Q & A’s

How often do you produce contributions monitoring reports?
At what point in the payroll period do you produce the contributions monitoring report?
What happens if we submit a second contributions file in any given payroll period?
What is the tolerance limit?
What does the contributions monitoring report show?
What do I need to do when I receive the report?
What should I do if a member appears in the contributions monitoring report because the information you have for them is out of date?