Opt-out data to your secure mailbox - You’ll now receive lists of members who opted out as CSV files instead of PDF attachments. This will go straight to secure mailboxes. - We’re also attaching a new CSV file of ‘expected contributions’ which is sent to secure mailboxes too. Enrolment cancellations data to your secure mailbox - We’re consolidating all messages about enrolment cancellations into one daily message. It’ll contain one CSV file listing all members whose enrolments we cancelled that day. - We’ll also attach a new CSV file of ‘expected contributions’ to secure mailboxes. SFTP return files - We’ve introduced some new return files to help out with the refunds process. - We’ve added group and payment source information to the opt-out return file. - A number of the return file XSDs - used for companies requesting XML return files - have been updated. We regularly improve our service to make it easier to administer of scheme and sometimes this means changing our file formats. We try to make sure these changes don’t impact too much on employers using NEST. Wherever possible we’ll make sure that if you send us a valid file in the old format, our system will still read it without returning an error. For instance, if we need to add an extra field to a file you send us, we’ll add it to the end of the header, detail or trailer record. We’ll continue to accept files that don’t contain a value for this new field, but we do encourage you to update your processes to use the new file format as soon as you can. Be aware: changes to our file formats can also affect some of the files we send to you. You’ll need to make sure your system can process extra fields at the end of header, detail or trailer records so it recognises files that contain extra fields without rejecting them. This applies to you if you’ve chosen to receive CSV or XML return files through SFTP or if you use the CSV files we send to your secure mailbox. The threshold for a comfortable retirement is around £15k a year, the findings of a new report published today by automatic enrolment scheme NEST (National Employment Savings Trust) show. The report [i], which looks at a number of factors, including pensioners’ ability to afford everyday household bills as well as their sense of satisfaction with life, found a significant shift in quality of life among pensioners living on a household income of £15-£20k a year compared to those with less. Based on these findings, NEST calculates that the average worker likely to be automatically enrolled in the scheme at the minimum levels should be able to save up enough over their working life to get most of the way to that threshold. A worker who starts saving at 22 should be able to double the amount of income they receive from a flat rate State Pension, by the time they reach retirement age, even if they only put in the minimum level of contributions. You’ll find a full explanation of these changes in the document attached to this CIPP news item . Price of a comfortable retirement is £15k a year 21 May 2014
CIPP Policy News Journal
08/04/2015, Page 439 of 521
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