Employer Sessions End of Year 2015 Local Government Pension Scheme CopyrightCopyright Hampshire Pension Fund 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 ◦ Introduction ◦ Timetable ◦ Roles and responsibilites ◦ What’s new? ◦ An example year end return ◦ After we have received the return ◦ Common queries and errors ◦ 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 things to watch out for and ensure they know where they can get further support

Introduction - Background LGPS scheme changes from 01 April 2014 Payroll providers New pensions software Changes to annual benefit statement deadline

End of Year Timetable 18 th Feb30 th April May to 15 th July 15th July By 30 th July 15 th Aug to 31 st Aug 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

Roles and Responsibilities Employers Provide information required by end of year process Ensure employees receive accurate statements of pension 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

Preparation for EOY Make sure you are up to date with: Starters Amendments – change of hrs, Leavers Monthly remittances

2014/15 EOY Return – what’s new? So whats new? Need to know: Date joined the scheme? Section of the scheme employee in Employee contribution rate Pensionable pay received in main and 50/50 section Employee contributions – split over main and 50/50 section Employee and employer APC contributions Employer contributions for each member

Example Year End Return Not again….

Pensionable Pay We now require 2 different pensionable pay calculations on EOY as at 31/03/15 or date of leaving: Average FTE pensionable pay (under 2008 regs) Cumulative pensionable pay = APP + Actual Pay (under 2014 regs) For more info: pension-homepage.htm pension-homepage.htm

Things to be aware of 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 Cumulative pensionable pay is not FTE Complete the additional information field for anything else we need to know

What happens next? Once you have submitted your end of year return: Check initial information Initial query of any obvious missing information Reconcile the payments received against what is expected Prepare for upload Identify any inconsistent information Upload data Identify any inconsistent information – query Resolve queries End of year process complete

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 Pay Increase/decrease in pay outside of tolerances Variable time being recorded as whole time not actual Missing data Active record but not on the return Casuals where they have not worked during the year Additional contributions missed/or included and no record

Pension website – further support

Employer login Username Employer1 Password Employer1

Any Questions ? Any Questions ?

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Disclaimer The information contained in these are based on our current understanding of the law. It should not be treated as a complete and authoritative statement of the law. Readers may wish, or will need, to take their own legal advice on the interpretation of any particular piece of legislation. No responsibility will be assumed by the Hampshire Pension Fund for any direct or consequential loss, financial or otherwise, damage or inconvenience, or any other obligation or liability incurred by readers relying on information contained in these slides.