18 December 2013
In advance of the end of contracting-out in April 2016, HMRC has set up a new Scheme Reconciliation Service for pension scheme administrators and trustees.
From April 2014 HMRC will offer a Scheme Reconciliation Service to allow pension scheme administrators and trustees to reconcile the membership and Guaranteed Minimum Pension (GMP) data held on scheme records against HMRC's records. Scheme Reconciliation Service You may also find a timeline which summarises the ending of contracting-out activities helpful. Please note this is based on current plans and assumptions and is subject to change. Timeline for ending contracting-out In January 2014 HMRC will publish the first in a series of bulletins to keep you updated about activities linked to the ending of contracting-out as a result of the introduction of Single Tier Pensions in April 2016.
HMRC Pensions Industry Business Update – Issue 7
24 December 2013
Issue 7 of the Pensions Industry Business update has been published.
Amongst other topics of interest, Issue 7 of the Pensions Industry Business Update (previously known as the National Insurance Services to Pensions Industry News Letter), contains New telephone number for the contact centre NISPI Payments Mailbox CA1604 Calculation Request Roles and Responsibilities How to pay a Contribution Equivalent Premium (CEP) via BAC’s GMP queries and requests for Contracted-out earnings received in RPWB Changes to the way in which HMRC issue cheques
DWP Pensions Stakeholder Newsletter
31 January 2014
The Pensions Stakeholder Team has circulated an update regarding workplace pension charges and mandating the SCON.
Charges in Workplace Pensions The Minister for Pensions, Steve Webb, laid a written ministerial statement before Parliament confirming the government's commitment to tackling high charges in workplace pension schemes. The Statement reads as follows: “This government is committed to tackling high charges in workplace pension schemes. In particular, for those workers who do not exercise any choice, where they are automatically enrolled into a scheme then remain in the default fund. Our consultation on pension scheme charging closed at the end of November. We continue to examine the responses, and will bring forward further proposals, in due course. However, one strong theme to emerge is about the timing for the implementation of any changes.
CIPP Policy News Journal
16/04/2014, Page 442 of 519
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