This countdown bulletin gives responses to the remainder of the queries raised during the 2 Pension Conferences held in April/May 2015.
Countdown bulletin 9 includes:
HMRC responses Scheme Cessation
Shared Workspace (SW) GMP Micro Service update
Abolition of salary related contracting-out 17 July 2015
The Government has published their response to the consultation on draft regulations The Occupational Pension Schemes (Schemes that were Contracted-out) Regulations .
The final version of the Regulations and other supporting legislation have been laid before Parliament.
The Regulations set out the rules which schemes that were contracted-out will need to comply with following the abolition of contracting-out. They ensure that members’ entitlements resulting from contracted-out employment will be preserved. A number of provisions are designed to ensure a smooth end to contracting-out for schemes.
The regulations come into force 6 April 2016
Countdown Bulletin 10 2 October 2015
The latest edition of the Countdown Bulletin, published by National Insurance Services, is aimed at Pensions Industry on the subject of contacting out which comes to an end in April 2016.
Countdown Bulletin number 10 aims to provide additional guidance for pension scheme administrators on the ending of contracting-out in April 2016. This bulletin includes information about:
Update on Scheme Reconciliation Service (SRS) from the Customer Relations Manager Scheme Reconciliation Queries Hints and Tips Contribution Equivalent Premiums (CEPS) Scheme Reconciliation Service Type 5 queries Tracking Contracted-out Rights after April 2016 GMP Micro Service Statement of Pensions Liability - CA1629 DWP Update Statements to Individuals at the end of 2018 Future Pension Conferences Useful Links Contact details Feedback Details
Employer actions for the end of contracting-out of the state pension 8 October 2015
Legal Week Law has written a useful summary of the steps employers with open contracted-out schemes should be taking as well as implications for schemes holding deferred contracted-out benefits.
The summary also looks at possible implications for schemes operating state pension offsets or offering bridging pensions (whether or not they have ever been contracted-out).
CIPP Policy News Journal
25/04/2016, Page 352 of 453
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