This EPN provides additional information about the transition project and guidance on the action now required by employers.
Actions
1. In EPN 527 we confirmed that following the completion of a member consultation exercise, L&G had been selected as the new DC provider. Following this, we asked employers and payroll providers to initiate change requests so that they could make changes once we confirmed the implementation.
2. In EPN 533 we provided the L&G interface guide to support the development of payroll systems in advance of the transition on 1 September 2018.
3. In this EPN we have provided:
L&G interface
4. The Scheme Manager (Cabinet Office) and L&G ran a series of conference calls to answer your queries on the data and contributions submission process. We have attached a document summarising the information shared during those calls for your information.
5. If you have any further questions about the L&G interface process please email your question to dc.transition@cabinetoffice.gov.uk.
Existing provider interfaces
6. You can currently transfer data and contributions to four providers: Standard Life, Scottish Widows, Prudential and Equitable Life.
7. From September 2018 payroll, you will not be able to make contributions to Prudential and we advise that you close this interface.
8. Due to the guarantees and protections provided by Equitable Life to their policyholders, the majority of members will continue to be able to contribute to their plans. Due to this, it is likely that you will need to retain this interface. We will advise you if any Equitable Life members within your employment are to be migrated.
9. It is possible that contributions to Standard Life and Scottish Widows will need to continue for some members. We will confirm the position for these two providers in the next EPN on 30 April 2018.
Your Monthly Interface to the Scheme Administrator (MyCSP)
10. As you may be aware, the Scheme Administrator provides death in service life and ill health cover to members of partnership. This will be unaffected by the move of the partnership pension provision to L&G.
11. In preparation for the September 2018 transition, we have provided instruction about what to do regarding the Monthly Interface to the Scheme Administrator in the attached document.
12. Further support regarding the Monthly Interface is available via the Interface Team. To contact the Interface Team, email Interfaceteam@MyCSP.co.uk .
Member requests to change contributions levels
13. Currently, the process for members wishing to change their contribution level is different for members of the partnership scheme and Civil Service Additional Voluntary Contribution Scheme (CSAVCS). In partnership, members are required to contact their employer or payroll provider directly, whilst CSAVCS members need to make their request via the Scheme Administrator who will forward it to their employer or payroll provider.
14. We intend to simplify this by aligning the two processes. Therefore, from the September 2018 payroll, when a member requests to change their contribution amount they will be instructed to send their request form to their employer or payroll provider.
15. We will publish details of the new process and provide updated request forms on the Civil Service Pensions website in July 2018.
Standalone Stakeholder scheme
16. We previously notified you of the intention to withdraw the Standalone Stakeholder pension arrangement for new members.
17. The Standalone Stakeholder pension arrangement will no longer be available to new members from 1 June 2018.
18. Existing members of the Standalone Stakeholder pension arrangement are not affected by this change.
19. We will advise existing members of the impact of the transition project on their pension arrangement in July 2018, and we will be updating the Civil Service Pensions website to reflect this change by April 2018.
Civil Service Additional Voluntary Contribution Scheme (CSAVCS)
20. In order to enable the transition to a single provider, the CSAVCS will temporarily close to new members between 1 June and 31 August 2018. The CSAVCS will re-open to new members on 1 September 2018 and L&G will accept applications from this date.
21. In order for an account to be established, the selected provider (either Standard Life or Scottish Widows) must receive applications by 31 May 2018.
22. On 1 September 2018, the AVC scheme will re-open and L&G will accept applications from this date.
Items that will be addressed in April’s EPN
23. In April’s EPN, we will provide information about the following:
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Contacts If you require further assistance on the content of this EPN, please contact DC.Transition@cabinetoffice.gov.uk . 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: |