Guidance

Countdown bulletin 41 - January 2019

Published 21 January 2019

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1. Scheme financial reconciliation update

In Countdown Bulletin 40 we told you about the implications if you do not request your financial position.

This update is to let you know about cut-off dates.

You have until close of business on the 28 February 2019 to request your scheme financial position.

In addition to following the email format detailed in Countdown Bulletin 39, include the number of schemes included in your request in the email subject.

The cut-off date for scheme financial reconciliation is 11th January 2019.

All outstanding money with a received date before 12th January 2019 will be allocated to all outstanding debt created before 12th January 2019.

The final billing and refund exercises in March will then identify whether a scheme has only pre 12 January 2019 money outstanding (in surplus at that date) or has only pre 12 January 2019 debt outstanding (in deficit at that date).

You must continue to pay any paper bills as soon as possible to prevent the business as usual enforcement process cancelling debt and re-instating liability in scheme. This applies to paper bills issued before and after 12 January 2019.

2. Scheme financial reconciliation in scheme cessation

The scheme financial reconciliation is being extended to schemes that have a live file in scheme cessation. All information given in this and previous Countdown Bulletins applies.

The exception is that requests for financial positions must be made by emailing: financialsenquiry.schemecessation@hmrc.gsi.gov.uk.

3. Contributions Equivalent Premiums (CEP)

In Countdown Bulletin 40 we explained the latest termination date for a CEP was 5 April 2018 and that the time limit for submitting these expired on 6 October 2018.

This is a reminder that the time limits for submitting CEP Notifications with a termination date before 6 April 2016 were extended to the end of the Scheme Reconciliation Service (SRS).

Since the submission deadline for SRS queries has now passed, we will no longer be accepting requests to record CEP regardless of the submission route for example form CA1611 or Letter.

4. Resubmission Responses

A number of SRS automated solutions identify queries that should have been submitted as a different query type.

A response is provided advising the correct query type and asking the sender to re-submit the query.

This is mirrored in the SRS clerical process.

The deadlines for submitting both clerical and automated SRS queries have passed so these responses should be ignored as the returned responses can no longer be accepted.

Read HMRC: pension schemes reconciliation services for more information.

You can view earlier editions of National Insurance Services to Pension industry: countdown bulletins.

6. Contact

For general queries about contracted-out pensions contact the helpline on Telephone: 0300 200 3507.

Continue to deal with your usual contracted-out pensions contact for your day to day enquiries.

General queries about the Scheme Reconciliation Service should be made to the Customer Relationship Team at email: CRM.schemereconciliationservice@hmrc.gsi.gov.uk.

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