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EPN521 - Fact gathering exercise in preparation for Remuneration and Staff Reports in 2017-18 Annual Reports and Accounts

Audience

  • HR managers
  • Finance manager
  • All staff involved in the preparation of Annual Reports and Accounts

Summary

  • This EPN gives employers notice of the  information the scheme administrator requires in an initial fact gathering exercise; and
  • The support available

Action

  • To note the requirement to provide advance information to the scheme administrator (by 31 January 2018)
  • To express any interest in training provided by the scheme administrator

Timing

  • Immediate

Detail 

1. Each year, the scheme administrator provides employers with the pension information they need to complete Remuneration and Staff Reports about their most senior staff to include in their Annual Reports and Accounts. This EPN gives employers advance notice of what information they require in an initial fact gathering exercise, and the support available.

2. Advance notice of data you will need to provide to the scheme administrator

The data you will need to provide the scheme administrator at this stage is less detailed than that required for the 2016-17 exercise. This is due to the enhancements to the monthly interfaces planned (see EPN514 for more information). The scheme administrator will no longer reconcile individual member data before 31 March 2018.

3. Initial fact gathering by the scheme administrator 

To meet employers’ requirements and plan the timetable for producing pension information, the scheme administrator requires you to:

  • list senior staff likely to be included in your 2017-18 Remuneration and Staff Report;
  • confirm your accounting deadline dates.

To do this, please complete Annex 1, and return the completed document by 31 January 2018 to RADatareview2018@mycsp.co.uk

  1. Employer workshops
    Employer workshops will be available in March 2018. The workshops will:
  • increase your technical knowledge of what the pension figures represent;
  • outline the process and respective roles and responsibilities;
  • provide an opportunity for you to ask questions;
  • increase your awareness of how calculations are performed.

To attend a workshop, contact training@mycsp.co.uk. The cost and dates of the training will be confirmed when you contact the training team.

5. Secure transfer of information

The scheme administrator and employers must comply with data protection requirements when sharing data. The scheme administrators’ primary method for transferring data is via a secure portal called the Connect portal. Connect is designed for the secure transfer of files and is Cabinet Office approved. If you do not have access to connect, and want to find out more, please e-mail connect@mycsp.co.uk

  1. Alternatively, you can share information securely with the scheme administrator using Winzip with AES encryption. This requires the recipient of the e-mail and attachment to have the WinZip client, or a compatible application installed.

Please note: the “compressed folders” functionality in Windows cannot process encrypted files, so you are encouraged to ask your IT department for WinZip, or another suitable alternative.

7. Key dates for Resource Accounts 2017-18

Date

Event

12 December 2017

EPN issued to invite employers to submit requests for data review of all board members and also to confirm deadline dates

31 January 2018

Deadline date for all employer requests to the scheme administrator relating to the data reconciliation stage

 

February 2018

EPN issued to invite employers to request disclosure information for 2017/18

 

April 2018

Processing of disclosure information in line with agreed deadline dates begins

 


Annex 1

Other Information

If you have a question about the distribution of EPNs contact employerpensionnotice@cabinetoffice.gov.uk.

You can find electronic copies of the Employer Pension Guide, all current EPNs and forms on our website.

This notice is for employers and should not be issued to scheme members.

If members have a question about their pension they can find information on the Members section of this website or by contacting the Scheme Administrator (MyCSP).