HMRC Countdown Bulletin: October 2019 8 October 2019
Edition 49 of the Countdown Bulletin has recently been published and focuses on guidance surrounding the end of contracting out in relation to pensions and the role that HMRC will play in facilitating this.
The Countdown Bulletins provide important guidance and updates to pension scheme administrators about the end of contracting-out. 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.
The Bulletin covers the following areas of interest:
Final SRS Outputs
• • • • •
Scheme Contracted Out Numbers (SCONs)
Incorrect GMP
Contribution Equivalent Premiums (CEP)
Raising queries with HMRC
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Recognised overseas pension schemes notification list 16 October 2019
This is the list is of schemes that have told HMRC they meet the conditions to be a ROPS and have asked to be included on the list.
There have been 19 scheme names added to the list, and three removed. No amendments have been cited in this update.
A very welcome change is that HMRC now list the updates, as follows.
Schemes added
Australia Cooper Corporate Superannuation Fund Elman Superannuation Fund Hodgskins Superannuation Fund Hughes and Hughes Super Fund Julian Owens Super Fund Leeds MOT Superannuation Fund Lesley Fromant Superannuation Fund M & G Stebbings Superannuation Fund MRGough Super Fund PJ Hodgson Super Fund Red Dragon Superannuation Fund Richard Womack Super Fund Savill Family Superannuation Fund Stephen D Johns Tarnagulla Wagstaff Super Fund
Canada
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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