RPSM05300080 - Scheme Administrator Pages: Contributions and tax relief: Member contributions - overview: The date a contribution is made.

What is the date a contribution is deemed to have been made?

The date of payment of the contribution depends on what method is used to pay it.

Cheque

The date the cheque is given to you, or if posted, the date you receive it.

Debit/credit card

The date on which details are received by you

Direct debit

The date you are authorised to draw the sum from the member’s bank account, i.e. the date set out in the direct debit mandate. This is subject to the proviso

you have received the correctly completed direct debit mandate, and
you actually receive the funds requested under the direct debit mandate.

Member contribution made via employer deduction through payroll

The employer effectively acts as collection agent for the transmission of employee contributions taken from their pay and passed on to you as the relevant pension scheme administrator.

The date of payment in the case of a contribution made under the net pay arrangements is the date of deduction from the employee’s pay.

The date of payment for a contribution made under Relief at Source, for example to a group or other personal pension scheme, is the same as a payment the member makes direct. For example the date that you are authorised to draw money by direct debit from the employer’s bank account or the date you receive the employer’s cheque.

In specie transfer

The date the asset becomes the property of the scheme