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 © Copyright Hampshire Pension Fund This is for employers use only and should not be copied or used for any other purpose.Copyright

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 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 HPF Provide actuary with all data required by them Send annual benefit statements Send information to HMRC Fund Actuary Ensure fund is maintained at an acceptable level of solvency Assesses any increase or decrease in pension contributions paid 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 Upload data Upload to member records Run error reports any errors on our new query sheet 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

Year End Processes Provide information to HMRC Provide annual and lifetime allowance 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

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 17 th Feb30 th April May to July 31 st July Early Aug 15 th Aug to 7 th Sept Deadline for Employer year end Deadline for data To be correct on system Upload data onto our systems and resolve any queries Statements will be sent EOY Templates sent 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

Employer login Username Employer1 Password Employer1

Further support – Finance

Further support – EOY returns

Any Questions ?

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