Employer End of Year
Support Sessions 2014
Local Government Pension Scheme
Disclaimer:
These are the changes as we know them at the moment - As further information is provided and
things are clarified for us, some of this information may change before we get to April 2014.
© Copyright Hampshire Pension Fund 2013. This is for employers use only and should not be
copied or used for any other purpose.
Welcome
• Who we are
• Toilets
• Fire exits, fire alarm
• Mobile phones
• Today’s session
• Introductions
Agenda
Part 1
•
•
•
•
Introduction
An example year end return
Year End Processes
Common errors and new query spreadsheet
Half-time
Part 2
• LGPS 2014 impacts
• Further support
• Questions
Objectives
• To ensure employers understand the importance
of accurate, timely end of year returns
• To ensure that employers have the knowledge of
what is required for this end of year
• Provide support to employers on common queries
and ensure they know where they can get further
support
• Understand the impact
of LGPS 2014 on monthly
remittance and end of year 2014/15
Introduction - Background
• Fund is one of 89 regional administrators of LGPS
• Approx. 50,000 Active Members and more than 300
employers
Importance of accurate returns…
• Your employees benefit statements are based on the
information you provide
• It’s a data check for both you and us
• Information provided is held and used at valuation year
• It ensures that we can check that the contributions that are due
match the contributions paid during the year
Roles and Responsibilities
Employers
HPF
• Provide information required by end of year process
• Ensure employees receive accurate statements of accrued benefits
• Ensure Fund actuary has reliable data on which to base future
employer rates
• Provide actuary with all data required by them
• Send annual benefit statements
• Send information to HMRC
• Ensure fund is maintained at an acceptable level of solvency
• Assesses any increase or decrease in pension contributions paid
Fund Actuary by employers
Example Year End Return
Not again….
Things to be aware of
• It’s a looong spreadsheet, scroll to the end
• Make sure all steps are complete
• Flexible retirement and continued to contribute - add two
lines on the return
• Change pay references in the year
• If member has left, Pensionable Pay date should be the
leaving date
• Casuals
• Variable time – Pensionable pay should be actual pay
• Variable hours – Pensionable pay should WTE & provide hours
• Complete the additional information field for anything else we
need to know
Year End Processes
Initial data check
All relevant boxes are
completed and no red
fields
Ensure ee’ conts on the
form match ee’ conts
received through the year
Form returned if initial
checks have failed
Upload data
Upload to member
records
Run error reports
Email any errors on our
new query sheet
Year End Processes
Produce annual benefit statements
For members that were in
the scheme on 31 March
Still active at the time of
running the statements
The statements are based on
the service and pensionable
pay as at 31 March 2014
Provide information to HMRC
Provide annual and lifetime allowance
Query spreadsheet
Queries and errors
Starters
• A member is shown on the return, but we have no matching
record for them
Leavers
• Pensionable pay date is before 31 March but record still
showing as active
Split data
• Flexible retirement
• More than one post but only one pay reference
Queries and errors
Variable hours
• Not reported on the return
Pay
• Increase/decrease in pay outside of tolerances
• Variable time being recorded as whole time not actual
Missing data
• Variable hours / time where they have not worked during the
year
• National insurance contributions
• Additional contributions missed/or included and no record
End of Year Timetable
Deadline for
Employer year end
17th Feb
30th
April
EOY Templates
sent
Deadline for data
To be correct on
system
May to
July
31st
July
Upload data onto
our systems
and resolve any
queries
Statements
will be sent
Early
Aug
15th
Aug to
7th
Sept
Data sent to
printers
Half-time
LGPS 2014 Impacts
Example Monthly remittance
• employers
What’s different?
•
•
•
Pensionable pay –
still required but
should be based
on 2014
definition
Additional
pension
contributions
(APC/SCAPC)
No longer require
a member
breakdown each
month for small
employers
2014/15 EOY Return
Additional requirements
Main Section
• Cumulative Pensionable Pay
• Cumulative Employee’s Contributions
50/50 Section
• Cumulative Pensionable Pay
• Cumulative Employee’s Contributions
Additional Pension
Contribution (APC)
• Employee APC Contributions
• Employer APC Contributions
Additional Voluntary
Contribution(AVC)
• Employee AVC Contributions
• Employer AVC Contributions
Pension website – further
support
www.hants.gov.uk/finance/pensions
Employer login
Username Employer1
Password Employer1
Further support – Finance
Further support – EOY returns
Any Questions ?
Thank you for
coming along today
Need further support:
http://www3.hants.gov.uk/pensions/
Call us: 01962 845588
Email us: pensions.finance@hants.gov.uk