July 2018 Norwich Professional Development Centre 144 Woodside Road - PowerPoint PPT Presentation

Employer Forum July 2018 Norwich Professional Development Centre 144 Woodside Road Norwich NR7 9QL

Mark Alexander Pensions Manager Debra Keeling Member Services Manager

…things about pensions you never knew you didn’t know but always wanted to!

“Starters” to “Leavers” Supporting Employers ➢ Employer Guides ➢ Pension Admin Strategy ➢ Workshops ➢ Clinics ➢ Forum ➢ Website ➢ Portal

Employer Handbook and Guides

“Starters” and “Leavers” Employer Events Lawrence House, Norwich A number of “Clinic” Days are held every year ➢ Individual Employers (may send more than one representative!) ➢ Shorter Sessions (not too much of a good thing!) ➢ Can come to you! Specifically for: ➢ Completing the Year End Return ➢ Using Online Services

“Starters” – New LGPS Member Starters ➢ Pension Administration Strategy (PAS) ➢ SR46 Form ➢ Or Bulk spreadsheet via portal Pension Account Created (NB automated process for NCC payrolls)

“Starters” – New LGPS Member New Member Pack ➢ Scheme booklet ➢ Membership Form SR95 ➢ Transfer Request Form SR96 ➢ Expression of Wish Form ➢ Date of Birth Verification

Keeping on the right side of the law! Pension Administration Strategy Pension Fund Responsibilities and Employer Responsibilities

Keeping on the right side of the law! What do NPF do to ensure good data quality? ➢ Online submission of data by employers ➢ Immediate validation of data ➢ Poor quality data rejected ➢ Person responsible for data ensures it is correct ➢ Authorisation and Audit Trail ➢ Consistency Checking ➢ Cross checking of data (FTE pay) ➢ Contribution posting ➢ Mortality Screening ➢ Pensioners Monthly ➢ Address Checking / Tracing ➢ Pensioners and Deferred Members

Keeping on the right side of the law! Measuring Data Quality Annual Report on actual data held ➢ Common data ➢ Names ➢ NI Numbers ➢ Addresses ➢ Dates of Birth ➢ Conditional data ➢ CARE pay ➢ Contributions ➢ FTE pay ➢ GMP data

Keeping on the right side of the law! ➢ Full Monthly data submissions (rather than annual) – TPR very keen ➢ Annual Benefit Statements sent on time – TPR very keen ➢ Third party payroll providers ➢ Data Quality – new measures

“Leavers” and “Retirements” Telling us about “Leavers” ➢ Employer Guides ➢ R25 – early notification of retirement ➢ L45 – leaver form ➢ R16 – early retirement authorisation ➢ R18 – Ill Health Certificate All done online (except R18)

“Leavers” and “Retirements” ➢ Checking of figures supplied on L45 ➢ Consistent with what we are holding FTE ➢ Tolerance check of CARE pay ➢ BUT authorised by employer ➢ Calculation complex – Regulations ➢ Pre 2008, 2008-2014, Post 14 CARE ➢ Payment of pensions

New Regulations – LGPS Amendment Regulations 2018 ➢ Affecting members benefit options: ➢ AVC options – so all members have the same options of taking pension and/or tax free cash with AVC pot ➢ Deferred members who left before April 2014 – can take from 55 without employer consent – intention although legislation amendment required?

New Regulations ➢ Outstanding items ➢ Expecting consultation by the autumn??? ➢ Exit Payment Cap ➢ Exit Payment recovery ➢ Further reforms?

Thank you for listening! Any Questions? www.norfolkpensionfund.org Norfolk Pension Fund Email pensions@norfolk.gov.uk Telephone 01603 495923