- Pension Leads, Finance & HR Managers,
- Payroll managers and/or any staff involved with payroll provider's interface to MyCSP
- To familiarise yourself with the information that is required by MyCSP, and;
- To put in place the necessary arrangements for your payroll to supply MyCSP with the required information for 1 April 2017 – 5 April 2017 (inclusive).
In EPN 465, you were informed that HMRC require accrued pension to be valued precisely as at the closing date of the Pension Input Period (PIP) on 5 April. This means that the accrued pension must be calculated as though the member left service on 5 April.
We recognise that there is unlikely to be any scope to make changes to your interfaces for April 2017 and therefore, a different approach will be necessary. To provide this information, Employers will need to provide data using a manual interface spreadsheet.
What data is required?
Data is required for the following members:
- All members of alpha
- All members of nuvos
- Members of classic, classic plus, and premium who pay contributions in respect of added pension or added years contracts
MyCSP requires details of each impacted member’s pensionable earnings for the period 1 April 2017 - 5 April 2017 (inclusive). Pensionable earnings include any salary, pensionable allowances or bonuses due to a member within this period.
We also require details of any contributions that a member will make out of these earnings towards Added Pension, Added Years or EPA contracts. This should be provided based on the pensionable earnings for the period in question.
What happens next?
MyCSP’s interface and project teams have been contacting Employers and Shared Service Providers throughout October and November and will continue to do so through December to raise awareness of EPN 465 and to assist you in preparing the data that is required.
If you are planning to develop your payrolls, as opposed to sending through the manual interface, you will need to ensure that development is completed by 31 March 2017.
Your data becomes available to send to MyCSP from 6 April 2017 however, Employers/payrolls/Shared Service providers should submit their payroll data alongside the April 2017 monthly interface. If you do not submit monthly interfaces, this information should be provided by 31 May. Confirmation from MyCSP of successful receipt of acceptable data will be provided within 10 working days of submission from Employers/Shared Service Providers.
If you are yet to be contacted by MyCSP and require imediate support please contact AAearnings@mycsp.co.uk
You will be able to find further information including Frequently Asked Questions, a ‘What to Expect’ guide and interface help guide at http://www.civilservicepensionscheme.org.uk/employers/annual-allowance-2016-17/ The interface help guide can also be found in the annex below.
As above, if you have any questions or require immediate support from MyCSP please contact AAearnings@mycsp.co.uk