With the right action and support now, older workers can make a valuable contribution to the workplace and UK economy, and reap the personal benefits of working in later years, including being more financially secure and socially connected.”
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Latest Countdown Bulletin published 25 July 2017
These Bulletins provide guidance and updates to pension scheme administrators about the ending of contracting-out - part of the new State Pension which was brought in on 6 April 2016.
The countdown bulletins are produced by the National Insurance Services to Pensions Industry (NISPI).
Countdown bulletin 25 includes updates on
Changes to DWP legislation regarding late payments of CEP Paying State Scheme Premiums liabilities via Bacs Scheme reconciliation and active member queries Automation of SRS queries SRS to late expressions of interest Scheme reconciliation re-runs requests Scheme cessation update
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NOW: Pensions reassures its clients and members 27 July 2017
Further to the news that NOW: Pensions chose to withdraw itself from the master trust assurance list of providers for auto enrolment, clients and members are being reassured that the best possible service remains top priority.
NOW: Pensions issued a press release on 24 July 2017 announcing their withdrawal:
Morten Nilsson, CEO of NOW: Pensions said:
“NOW: Pensions has always been a huge supporter of the master trust assurance framework and was one of the first providers to adopt it. We’ve since completed the framework three times and remain committed to it. We feel that while we work to resolve these historic issues and ensure that every scheme is up to date, it’s appropriate to withdraw from the list. We are confident that this work will be completed shortly. Providing our clients and members the best possible service remains our top priority.”
As one of the largest players in the auto enrolment market, NOW: Pensions has an open and ongoing dialogue with the regulator regarding all aspects of our scheme.
Largely as a result of NOW: Pensions’ change of third party administrator, it has experienced some delays processing contributions for a small percentage of clients. NOW: Pensions has kept The Pensions Regulator fully updated regarding these historic issues and accept that getting these schemes up to date has taken longer than it should due to the complexity of some of the cases, the poor quality data that was sometimes involved and the systems used.
Morten Nilsson continues:
“We should have been more proactive in our communications with affected clients and members regarding these issues and apologise wholeheartedly to those we have let down. In this instance, we have fallen short of the standard of service we aim to provide.”
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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