This is a reminder that HMRC has changed the deadline for Public Service Pension Schemes to issue Remedy affected members with their 2022/23 Pension Saving Statement (PSS), to 6 October 2024.
Members affected by the 2015 Remedy (McCloud), who had alpha service between 1 April 2015 and 31 March 2022 and are eligible for a PSS can therefore expect to receive one by 6 October 2024. Any requests for a 2022/23 PSS to be issued earlier cannot be processed.
Ensure that the correct information is shared with affected employees following any queries about PSS or annual allowance tax charges for 2022/23.
Be aware of the dedicated PSS page and to promote these to your employees.
Help members access the right support if they have any queries.
Each year we issue a PSS to members who meet one or more of the following criteria:
They have exceeded the Annual Allowance limit of £40,000* (for 2022/23).
They earn over £100,000.
They have requested a PSS.
The deadline for a PSS to be issued is normally 6 October each year.
HMRC has changed the deadline for Public Service Pension Schemes to issue Remedy affected members with their 2022/23 PSS, to 6 October 2024. This is because any service which Remedy affected members had in alpha, between 1 April 2015 and 31 March 2022 (the Remedy period), has now been rolled back into their Legacy scheme (classic, classic plus, premium or nuvos). This not only affects the members Pension Input Amounts (PIA) during the Remedy period, but also their PIA in the 2022/23 tax year.
HMRC has also confirmed that members who have been rolled back into their Legacy section from alpha, should not include their PIAs on their self-assessment by the normal deadline of 31 January 2024. Members now have until 31 January 2025 to do so. The deadline for making a scheme pays election for affected members is now extended to 31 July 2025.
There is a separate process for individuals to report an Annual Allowance tax charge for the 2022/23 tax year, using an electronic form which members can use once they have received the 2022/23 PSS (by 6 October 2024).
MyCSP is in the process of issuing an interim letter to members who either:
received a PSS for the tax year 2021/22 and therefore may have expected to receive one for tax year 2022/23 or
have requested a Pension Savings Statement (PSS) for the tax year 2022/23.
The interim letters have been designed to inform members about the HMRC guidance for the 2022/23 tax year and explains the rationale behind this. The letters also clearly signpost to the HMRC separate reporting process which will allow members to make a new submission of their annual allowance tax charge for 2022/23, once they have received the PSS by 6 October 2024. We will contact you individually to let you know when the letters have been issued.
MyCSP are not sending interim letters to members outside of the two scenarios listed above as it is not clear yet what impact rollback will have on the members PIA during the Remedy period and also the PIA in the 2022/23 tax year. The members who are receiving an interim letter have been identified as members who would expect to receive a PSS for 2022/23 before October 2024 and naturally, we want those people to be informed and assured about the process.
Please note: information contained in this EPN reflects current HMRC legislation. The information contained in earlier EPNs on the subject of PSS for 2022/23 was correct at the time of publication but is now superseded by EPN701.
We appreciate that some members may express concern in connection to their PSS being issued up to 12 months later than usual. In these cases, members can be reassured that this process reflects HMRC legislation and that there is nothing that members need to do in the meantime.
The Civil Service Pension Scheme PSS page has been updated to reflect the most up to date information.