Pension schemes newsletter 108 – March 2019 1 April 2019
The latest pension schemes newsletter includes an important reminder to administrators that if you have not already enrolled for secure data exchange service (SDES), you should do so as soon as possible as certain returns will only be accepted through this service.
The newsletter is published by HMRC’s Pension Schemes Services to update stakeholders on the latest news for pension schemes.
Pension schemes newsletter 108 includes articles on:
Relief at source
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Guaranteed Minimum Pension (GMP)
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• Master Trust update and an introduction to supervision • Managing Pension Schemes service • Reporting on Pension Schemes Online service • Annual allowance calculator
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Countdown bulletin 44 – updated 2 April 2019
This publication provides important guidance and updates to pension scheme administrators about the end of contracting-out and includes updates on Scheme Financial Reconciliation.
Countdown bulletin 44 was originally published at the beginning of March. It has been updated with information about the release dates of refund letters and cheques for schemes in surplus that have engaged with HMRC.
Although contracting-out came to an end in April 2016, schemes are still submitting termination and transfer notices with end dates on or after 6 April 2016.
The National Insurance Services to Pensions Industry (NISPI) countdown bulletins provide additional guidance for pension scheme administrators to enable them to make sure all individuals contracted out pension rights are secured correctly.
Previous editions of the Countdown Bulletin are also available on GOV.UK.
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New priorities set by the FCA & TPR 26 April 2019
The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) has set their priorities for the coming year for its joint action including reviewing whether pension schemes are providing sound information to consumers.
Within the FCA’s business plan for 2019/2020, published on 17 April, it outlined a number of key pension priorities for the coming year and laid out the steps it is taking to ensure maximum effectiveness and minimised costs for organisations.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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