Pensions Administration Lynn Wright Pensions Administration Manager 1
- Slides: 13
Pensions Administration Lynn Wright Pensions Administration Manager 1
Pensions Administration Legislation changes Workloads - key figures 2014 scheme Automatic enrolment Communications Next year 2
Legislation changes Amendment regulations 2011 Pensions Increase regulations 3
Workflow – key figures Retirements 1, 465 20% Estimates 2, 779 11% Transfers In 233 36% Transfers Out 131 38% Deferred Benefits 1, 986 16% 4
2014 Scheme Implementation Administration Communication with members 5
Automatic enrolment YOUR RESPONSIBILITIES: Know your staging date • assess your workforce and identify who to automatically enrol • choose a pension scheme • register with the regulator • provide workers with information about the changes • process any opt-out and opt in notices • make contributions • avoid inducements and prohibited activity • keep accurate records 6
Communication Employer liaison meetings End of year returns Helpdesk Correspondence 7
Employer liaison meetings Held: Next one: Covering: 20 th July 2011; 10 th January 2012; 16 th July 2012 13 th January 2013 legislation updates tax changes auto-enrolment retirement process absence 8
End of year returns 29 submitted by deadline (21 st April) 67 by the end of April Data cleanse paid dividends Even less queries than last year – 96% reduction in one employer alone 9
Helpdesk 2011/12 10, 287 calls received 0. 5% 8, 235 e-mails 12. 5% Performance measured Quality monitored 10
Communication Annual benefit statements Presentations Correspondence 11
Next year Triennial valuation Automatic enrolment Consultation on 2014 scheme Regulations expected March 2013 12
Any Questions? 13
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