B. WHAT IF MY CIRCUMSTANCES CHANGE? PART 6 OF 7.
You must advise your trustee immediately if your income or number of dependants changes, or you think these details will change in the next 12 months. If you fail to do so, your assessment may be incorrect and you may pay too much or not enough.
At the end of each 12 month period your trustee will re-assess your contribution liability based on your actual income and dependants for the period. If you have not paid enough because your income was greater than your estimated then you will have to make up the shortfall. If you have paid too much the extra payments cannot be refunded but they will be credited to the next assessment.
No comments:
Post a Comment