This bulletin details the requirements for “Year-End” pension information for 31 March 2023.
These requirements are for employers on i-Connect.
Submission requirements
As you or your payroll provider have submitted data in respect of pension contributions and CARE pay via i-Connect there is no need to complete a year end return spreadsheet, as the only additional data now required is the Full Time Equivalent Final Pay figure that you have supplied in previous years. The FTE pay figure must be included within your month 12 (March) i-Connect submission and instructions on how to do this depending if you upload a report or process the online return can be found alongside this bulletin.
The other required documents that need completing for Year End, which can also be found alongside this bulletin are:
- Contributions Balancing Sheet which must be balanced, matching the monies paid over during the year
- Certification Document
- Year End FTE Pay information spreadsheet (ONLY complete this if you have any members, for example casual staff, that are NOT included on the March submission)
A Full Time Equivalent pay calculation guide can also be found if you are unsure how this figure is calculated.
Submission date
For your Year End information to be verified before being used for member Annual Benefit Statements, member Pension Saving statements and closing annual accounts, it is imperative that the Pensions Section receives correct and verified information. In order for the information to be checked by the Investments Team and the Pensions Team, and to allow for any queries that arise, your March 2023 submission MUST be processed and the Year End documents MUST be submitted to the Pensions Section by 30 April 2023, so that these checks can take place and you will have time to resolve any queries.
As the Pension Regulator (TPR) now monitors the completion of Annual Benefit Statements by the statutory 31 August deadline, failure of employers in providing current data that leads to breaches of statutory regulations may result in us having to report the breaches to TPR, with potential fines or charges.
If you switched payroll providers during the year 2022-2023, then you will need to take steps to gather the necessary information in order that you can provide a complete Contributions Balancing Sheet for the full 12 months.
The Certification Document must be signed by an authorised signatory e.g. Head of Finance or HR/Payroll, Internal or External Auditor, Bursar, Accountant. If you use a third-party payroll provider responsible for the accuracy of the data, you may ask them to sign the form on behalf of your employer.
If you need to send any confidential information, advice is that this should be sent using the Council’s secure e-mail system Egress. Please send the completed Year End forms to pensionsyearend@leics.gov.uk
Should you have any questions or queries arising from this document, please email Dean Campbell or call 0116 305 5862. Given the deadlines, I would encourage you to make contact sooner rather than later if there are any issues that you need resolving.
