To prevent a re-occurrence of these issues, NOW: Pensions has invested, and continues to invest heavily in new systems, people and processes.
Over the past two years, it has been building a large internal operation out of its office in Nottingham and its own auto enrolment site to upload payroll files called the NOW: Pensions Gateway. This was launched for new clients at the end of last year. This new system has been tailor made for auto enrolment and has been extremely well received by both employers and payroll bureaux who have praised it highly. It is much simpler to use, with stronger validations to prevent poor quality data getting into the system which can cause significant problems further down the line. Over the coming months NOW: Pensions aims to gradually move existing clients across to this new system.
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Pension schemes newsletter 89 – July 2017 28 July 2017
HMRC’s latest pension schemes newsletter includes news of a new pensions online service to be introduced in April 2018.
The latest newsletter also contains updates on:
Pension flexibility statistics Relief at source for Scottish Income Tax Annual return of individual information Qualifying recognised overseas pension schemes (QROPS) transfer statistics Lifetime allowance look up service for pension scheme administrators Reporting of non-taxable death benefits
Pension schemes newsletter 89 – July 2017
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Play your part – act on pension scams 28 July 2017
At least half a billion pounds of savers’ money has been lost to pension scams; with about £50,000 being the average loss from a scam.
Citizens Advice research showed that 10.9 million people received unsolicited contact about their pension during 2015/16.
The Pensions Regulator (TPR) is joining other organisations, including Citizens Advice , to take a stand against scams and fraud.
Scams awareness month was launched during July where TPR’s Industry Liaison Team began touring the country, speaking at events organised by the Personal Finance Society, to help spread the warning messages about scams. The tour is continuing over the next few months.
Five signs of a scam to be aware of are:
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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