Date posted: 01/03/2010
Audience: This Notice will be of particular interest to:
- All Finance Managers and their payroll providers
Action: Review of Payment Methods
- The current arrangement for meeting the costs of member’s early retirement is that the PCSPS makes the initial payment and then charges the relevant employer at the end of the month. In 2008 a new method for the collection of these costs was established. (EPN225 refers) All employers were required to give permission for Captia, on behalf of the scheme, to either charge their OPG account at month end or request the money from a commercial bank account by means of a direct debit mandate which was then collected on the 13th working day of the following month.
- As a result of the changes to the government banking structure being introduced by the Government Banking Service (GBS) there will no longer be any OPG accounts. Therefore all employers who currently settle their early retirement bills from their OPG accounts are now required to complete a Direct Debit Mandate. All employers who currently settle their early retirement bills by Direct Debit Mandate need take no further action as they will be transferred automatically by the GBS.
- Direct debits can be applied to any commercial bank account including a Citibank account within the new GBS structure. If a new Citibank account is to be used the Direct Debit will need to be authorised by Citibank and GBS before any payments can be taken. Arrangements have been made with GBS so that all new Citibank Direct Debits will be co-ordinated and submitted centrally by Cabinet Office to prevent any delays from being incurred.
- The required Direct Debit Mandate form which needs to be completed can be found at Annex A to this EPN and should be completed in hard copy and forwarded to the address below. Please ensure that all forms are completed and received by 31st March 2010 to allow the records to be updated and the relevant bills to be applied correctly from the end of April. Please also ensure that up to date contact information is provided so that any query relating to payments can be directed to the correct person in the first instance.
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Civil Service Pensions