Employer Forum. June Mark Alexander Pensions Manager

Transcription

1 Employer Forum June 2015 Mark Alexander Pensions Manager

2 News! Summary of LGPS 2014 projects during 2014/15 Year end 2014/ /16 and Beyond

3 Legislative Jigsaw! LGPS Regulations 2013 Transitional Provisions Regs 2013 LGPS 2014 Statutory Guidance 2013 LGPS Regulations 1997 saved provisions LGPS Regulations 2007 saved provisions

4 Updates to Online Resources Member pensionsweb Employer Portal portal.norfolkpensionfund.org Please use the online forms: Benefit Estimate Request Retirement Discretions Advance Warning of Retirement Contribution Rate Change Notification of unpaid leave of absence Leaving Pensionable Employment Change of Contractual Hours Secure Message Form

5 New Employer Handbook and Guides LGPS Contributions LGPS New Employer LGPS Discretions LGPS Pensionable Pay LGPS Leavers and Retirements Internal Dispute Resolution Procedure (IDRP) LGPS Member Absence Year End Guide A Guide to PensionsWeb

6 Pensions Administration System Upgrade 1,100,000 documents (approx 15 million pages) 770,000 completed task records 4,000 factor tables for calculating and controlling benefit calculations 350 scheme employer records 111,000 member records 21,500 payees on 3 pensions payrolls

7 Year End 2014/15 Progress Report 2012/ Employers Interfaces + 15% + 150% 2013/ Employers Interfaces 2014/ Employers Interfaces 98% of returns received and 50% already processed Employers have started to receive queries/sign-off requests Process to be completed by end of June. statutory requirement for employers to provide data to us by July

8 Year End 2014/15 - Annual Benefit Statements Where employers have not returned queries or signed-off year end NPF will not be able to produce benefit statements Statutory requirement to provide Annual Benefit Statements and Pension Savings Statements (where AA exceeded) Annual Benefit Statements online by end of August Printed Annual Benefit Statements and Pension Savings Statements with members by end of September

9 Regulation Changes April 2015 Local Government Pension Scheme (Amendment) Regulations 2015 (Statutory Instrument 2015 No. 755 Option In (temporary workers) effective next pay period Vesting Period re Deaths in Service - ignored Automatic Cessation of 50/50 Option effective next pay period Assumed Pensionable Pay (APP) Reduced pay sickness (child related etc) leave where actual pay still more than APP Persons Incapable of Managing their affairs (guardian of child)

10 Single Fraud Investigation Service - SFIS National initiative Staff transferring from District/City/Borough Councils DWP co-ordinating TUPE transfer of staff Employers must provide NPF with member s authorisation to provide pension details to DWP Employers must provide usual leaving details (L45) to NPF

11 Norfolk Pension Fund New Bank Account Shares Norfolk County Council s arrangements Monthly pensions and general payments will be made using the new bank account from early July 2015 Employers will be informed when they need to start using the new account details to pay Monthly Contributions (SR71) to us

12 National LGPS NINO Database Prevent overpayment of Death Benefits Link in with National Tell Us Once Service Eventually members will be able to trace old pension rights NPF helping to test and develop the service

13 End of Contracting-out GMP Reconciliation From April 2016 employees and employers will pay higher National Insurance Contributions No more contracting-out Flat Rate State Pension GMPs Guaranteed Minimum Pensions Reconcile GMP information with HMRC/DWP and our records back to 1978!!

14 LGPS Valuation 31 March 2016 Timely submission of 2015/16 year end returns by employers Data cleanse clean clean clean Good Quality Data submitted to the Actuary - August Results - December 2016 Revised Employer Contributions - April 2017

15 Future Enhancements to Website and Online Services Dan McMahon, Hymans Robertson