POLICY HUB
On your behalf
Happy new tax year! Spring is officially here and so is the new tax year. Below is a rundown of all the events and how the CIPP’s policy and research team kept active in the month of April Policy team update
hosted an exclusive roundtable event in Cheshire, for 12 industry experts and leaders within the payroll, pensions and reward industries. Discussions involved how professionals can collaboratively elevate the payroll career and whether payroll needs a rebrand. The CIPP is dedicated to raising the profile of payroll and this gathering allowed the team to demonstrate and share the CIPP’s vision. Additionally, Sam attended the Nest Insight’s Emergency Savings Summit 2023, in London. The context for saving has changed for everyone over the past few years, with the financial impact of the global pandemic still being felt and the rising cost of living. Since 2019, Nest Insight has been exploring the role of workplace savings through a series of real-world trials, delivered in collaboration with employers and providers. Research showed that people want to save and that workplace savings tools can support several strategies households use for managing rising costs. At the event, evidence which was gathered across the research programme was shared, and remaining challenges were highlighted. The event also saw the launch of the final report from the ‘sidecar savings’ trial. The policy and research team were invited by the Institute for Fiscal Studies (IFS) to attend the launch of a new pensions review. This is an extensive two-and-a-half-year project which assesses what pensions policy and the economic environment mean for future retirees’ living standards. The IFS believes there's now need for a major
review into the pension system and the purpose of this review will be to provide recommendations on reforms. The CIPP looks forward to the review's findings, which will be published over the following two years.
Events Editor of Professional magazine, Lora Murphy joined one of the International Association of Book-keepers’ coffee mornings to discuss her personal experiences of studying the Foundation Degree in Payroll Management, while still working a full-time job and looking after her young daughter. She provided hints and tips to attendees regarding how to best manage their time, and a few pointers for when conflicting deadlines and busy periods result in higher than usual levels of stress. Policy and research officer, Mathew Akrigg presented a legislative update at a public sector specialist interest group (SIG) alongside Ernst & Young. SIGs are designed for CIPP members to share and resolve issues, concerns or queries with other professionals within the same industry. The CIPP will provide support and answer questions, but the groups are designed to be self-serving. SIGs are a member benefit for associate, full, fellow and Chartered members only. If you would like to upgrade your membership, please email us. Policy lead, Samantha O’Sullivan
Consultations The team will be conducting a number of think tanks in May. These think tanks will be based on the Low Pay Commission (LPC) consultation for 2023, which is seeking evidence to inform recommendations on minimum wage rates in 2024 and beyond. The two think thanks will be attended by LPC officials. In addition, HM Revenue and Customs’ (HMRC’s) consultation on simplifying and modernising its income tax services consultation has opened and is welcoming views. A think tank will be held, and an HMRC official will be joining, to get involved in the interactive discussion. Feedback will be collated by the policy team to respond to the consultation in June, on behalf of payroll professionals and the wider community. This is incredibly important for the CIPP as it will help define and shape the future of payroll. Your input is vital, therefore keep a look out for the dates and joining details for the think tanks. n
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| Professional in Payroll, Pensions and Reward |
Issue 90 | May 2023
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