The auto-enrolment earnings bandings have been increased for 2020/21 and details regarding this can be found on the Department for Work and Pensions (DWP) Website.
During May 2020, the Local Government Association (LGA) delivered eight COVID-19 employer webinars across the UK. The webinars covered pension issues that have arisen due to the coronavirus pandemic. If you missed them, you can now view the webinar and the webinar slides on their website.
There is also a COVID-19 web page for employers based on questions and feedback from the webinars and is designed to help you understand pension issues that may arise during the pandemic.
The Devon Fund Finance Team have asked that you include your employers number in the narrative when you make the payment of contributions. This will assist them with the reconciliation and ultimately make the process more efficient. Please refer to the Making Payments to the Devon Pension Fund guide on our website.
Please can we ask you to ensure where the IRMP states on the Ill-Health Certificate that the member does not meet the severe ill-health test that the member is made aware that this could mean that they will be subject to an Annual Allowance tax charge due to the fact that their pension input in the tax year could exceed the £40000 HMRC limit. If this is the case, and you request an estimate, we will notify you if there could be a potential charge when we send you the estimate. Please pass this information to the member with the estimate. This is an employer led retirement and we will not be in contact with the member until the actual benefits are brought into payment.
Just to remind you that when you have a member in receipt of a tier 3 ill health pension, it is your responsibility to review their eligibility for the pension after 18 months. Although we send you a letter leading up to the review date, this should be considered as a reminder only so we recommend that you keep a log of action dates to ensure that you deal with the review in good time . For more information on the process, please see the Employers Guide to Ill Health on our website.
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