Policy News Journal - 2017-18

 State Scheme Premium Payments (SSPs)  Scheme Reconciliation re-run requests  Guaranteed Minimum Pension (GMP) calculations

Previous editions of the Countdown Bulletin are available on GOV.UK.

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Reporting data about pensions savings statements 9 October 2017

Under discussion at the recent Pensions Industry Stakeholder Forum was where to get help if you are experiencing problems filing your 2016 to 2017 Event Report.

The Pensions Industry Stakeholder Forum is an HMRC-sponsored forum that has been set up to help HMRC better manage its relationship with pension industry stakeholders and representative bodies. It is the main route of engagement on operational issues. At the latest Forum held on 2 October 2017, members discussed data about pension savings statements and it was highlighted that information about what to do if issues are being experienced was published in a previous issue of HMRC’s Pension Schemes Newsletter ( issue 81 ). Reporting data about pensions savings statements A number of customers have approached HMRC regarding the submission of data in relation to pension savings statements for 2015 to 2016 tax year (reportable events 22 and 23). If you’re experiencing problems with your submission due to the number of reports you need to make, please email HMRC for help with this at pensions.businessdelivery@hmrc.gsi.gov.uk and put ‘Pension Savings Statements’ in the subject line of your email.

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Pot Follows Member plan may be resurrected 11 October 2017

‘Pot follows member’ proposals may be back on the agenda after the pensions minister suggested that the Department for Work and Pensions is looking at it as part of its review of automatic enrolment.

In October 2015, the then pensions minister, Ros Altmann, announced that the government had scrapped plans to roll out an automatic transfer system for small pension pots. If it had come to fruition it would have seen pension pots of less than £10,000 automatically moved to an employees new pension scheme when they changed jobs. Smart Pensions has reported that in a fringe event at the Conservative Party conference, pensions minister Guy Opperman suggested that the 'pot follows member' proposals are back on the table for the government as part of its review of auto-enrolment.