‘Administrative error’ meant pension contributions were recorded wrongly in annual reports
The Student Loans Company has understated the remuneration level of several senior executives in its annual accounts, Research Professional News can reveal.
The mistake meant that some staff were erroneously recorded as having large rises in their latest accounts because remuneration was understated in the past. The SLC insists the problem did not impact the overall accuracy of its financial statements for 2020-21 and was due to an administration error leading to the understatement of pension contribution values, but it will be of some embarrassment for an organisation tasked with tracking what graduates are earning in order to take repayments for student loans.