This website uses cookies:
We use cookies to personalise your user experience and to study how our website is being used.
You consent to our cookies if you continue to use this website.

View our cookie policy

EPN532 – Notification of employer actions for the delivery of Annual Benefit Statements and Pension Savings Statements in 2018

Audience

  • HR managers
  • Internal Communication managers
  • Pension leads

Summary

  • We will be issuing Annual Benefit Statements (ABS) and Pension Savings Statements (PSS) to all eligible members in 2018.
  • The distribution of ABS and PSS will commence in June 2018.
  • The distribution of ABS will be completed by 31 August and the distribution of PSS will be completed by the regulatory deadline of 6 October. However, please note that we plan to issue the majority of PSS by 31 August to provide more time to make any necessary arrangements.
  • This EPN details your responsibilities in assisting with the timely and accurate distribution of statements in 2018.
  • You will also find information on the provision of pension tax awareness sessions for employers and members.

Actions

  • Note the distribution of timescales for ABS and PSS.
  • Note that, we will issue Annual Statements to the home addresses we hold for members. These will be issued to the addresses we have on file as at 31/03/2018. Therefore, you must ensure that your interface files are up to date.
  • Note that, if you are a Civil Service employer, you are required to fund pension tax awareness sessions for eligible members.
  • Note the availability of free tax awareness sessions for all employers.
  • Note that we will issue specific ABS and PSS EPNs in due course that will contain much more detail and information on this years’ Annual Statement exercise. 

Timing

  • Immediate 

Detail 

1. Each year we issue Annual Benefit Statements (ABS) and Pension Savings Statements (PSS) to all eligible scheme members. We call this the Annual Statements exercise.

2. We will begin the distribution of both ABS and PSS in June 2018. The distribution of ABS will be completed by 31 August 2018, and the distribution of PSS will be completed by the regulatory deadline of 6 October 2018. However, to ensure employers and members have the maximum time available to make any necessary arrangements, we will plan to distribute the majority of PSS by 31 August 2018.

Members’ home addresses

3. We issue Annual Statements to members’ home addresses (excluding those for secure members or employers who have agreed alternative arrangements). This complies with the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, Part 9, Regulation 26. More information about Disclosure of Information regulations can be found using this link: www.legislation.gov.uk/uksi/2013/2734/regulation/26

4. You must ensure that you provide the Scheme Administrator (MyCSP) with up-to-date information about members’ home addresses prior to the start of statement distribution. Changes to home addresses can be made via your monthly interface, up to the delivery of your April submission, which will be expected on your agreed scheduled delivery date in May 2018.
Please direct any queries you may have about the provision of your monthly interface to Interfaceteam@mycsp.co.uk .

Pension tax support for members

5. The Scheme Administrator (MyCSP) will offer group and/or one-to-one pension tax awareness sessions to employees who receive a PSS. In line with previous years, if you are a Civil Service employer, you are required to fund these sessions. If you are not a Civil Service employer, you are not obligated to provide these sessions but are encouraged to do so. We advise you to make the appropriate funding available to enable the provision of these sessions for your employees. These sessions are important as they help members to understand if they have a tax liability and what action they must take. You may, of course, wish to source your own provider should you prefer to do so. For more information about these sessions, please contact taxsupport@mycsp.co.uk.

6. There are strict HMRC timescales for employees who have a tax liability to pay. You should, therefore, plan tax awareness sessions in advance to enable employees to have enough time to make the necessary arrangements. To assist you with this planning, we will provide you with an indicative list of employees who will receive a PSS, as soon as possible, following the successful closure of payroll year end and receipt of five day data. For more information on payroll closure and interface requirements, please see EPN531.

7. For more information about member pension tax awareness sessions, please refer to EPN511 or contact taxsupport@mycsp.co.uk

Pension tax support for employers

8. The Scheme Administrator (MyCSP) can offer you help to provide support to your employees who receive a PSS. Employer PSS sessions will take place during June 2018 and are open to all employers and are free to attend. The sessions cover the calculation of Annual and Lifetime Allowance, how to book tax awareness sessions and actions required by employers and members.

For more information or to book your place, visit www.mycsp.co.uk/training/training-services/civil-service-employer-training/employer-pension-saving-statement-awareness/

Contacts

If you have a question about the distribution of EPNs or you need to receive them in a different format contact employerpensionnotice@cabinetoffice.gov.uk

You can find electronic copies of the Employers’ Pension Guide, all current EPNs and forms on our website www.civilservicepensionscheme.org.uk under ‘Employers’.

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 at:

http://www.civilservicepensionscheme.org.uk/

Feedback