Annual Allowance 2020/2021

The annual allowance calculations will shortly be due for the year 2020/21 for all scheme members currently contributing.

To help reduce the number of individual requests for pensionable pay relating to these calculations, we have identified two categories of members that we consider may potentially breach the current HMRC limit of £40000:

• Employees who receive an annual salary of £90,000 or more per year, or

• Employees that have had an increase in salary over the last year of £5,000 or more.

It may still be necessary to request further pay information for other employees that have differing circumstances, but we hope that by providing these details annually from now on, these requests will reduce in number.

For employees that fall into either of the above two categories, please arrange for the Annual Allowance Spreadsheet, to be completed fully and returned to us by 5th July 2021.

Please send the data titled ‘Annual Allowance 2020/2021′ to our secure mailbox at: finance.pensionstechnicaltraining-mailbox@devon.gov.uk . You may also use this mailbox for queries relating to the spreadsheet and Annual Allowance.

Devon Pension Fund website is live

The Devon Pension Fund has launched a new website. The new website will include the Devon Fund’s statutory policies and details of the Fund’s investments. This includes details of the Devon Fund’s investment strategy and issues such as its policies on climate change. The new website can be found at www.devonpensionfund.org.uk. Employers should continue to use the Peninsula Pensions website for the latest news and guidance on LGPS pension administration.

Somerset County Council Funding Strategy Statement

A consultation regarding the Somerset CC Pension Fund Funding Strategy Statement has been sent to all employers and feedback is requested by 28^th May. If anyone requires more information or has any questions please contact Anton Sweet (asweet@somerset.gov.uk).

Employer PLOG meeting 2021

Our employer PLOG meeting took place on 30^th March 2021, and the meeting was recorded.  The video, together with the slides can be viewed here;-

Pension Liaison Officers Group (PLOG) - Peninsula Pensions

Positive impact of the data quality exercise

Feedback from our systems team has shown that the end of year process has progressed smoothly for those employers, big and small, that have gone through the data quality exercise. This means that as well as ourselves the employers concerned will benefit as they will receive less queries from ourselves to respond to. Thank you.    

Keep us updated

Please remember to keep us updated with any changes in staff responsible for completing our forms (authorised signatories). This can be done by completing our via our online form.

You can also use this form to notify us of any authorised delegated contacts, your IDRP Stage 1 Appeals Officer, your Payroll Provider, your contact for Interfaces and to sign up to our employer newsletter Pensions Line

Change of Payroll Provider & Provision of Data

It is important that you contact the Employer & Communications Team if you are changing your payroll provider. We can then work with you to ensure you put processes in place to retain access to historical payroll information and continue to fulfil your responsibilities as a Scheme employer.

Payment of Pension Fund Contributions

Please remember to inform us and the relevant Finance team each time you have paid your pension scheme contributions, by filling in the Monthly Contributions Form. If we receive the returns right away with the payments and they are correct, it makes the process so much easier, so please ensure that you build this form into your procedures.

If you are a Somerset Pension Fund employer, please contact the Corporate Finance Team for a copy of the Monthly Contribution Return: Corporatefinancepens@somerset.gov.uk

If you are a Devon Pension Fund Employer, you will need to use the online EAS5 form. 

TUPEs & New Academies

If you are outsourcing services and have a number of staff who will be subject to TUPE and moving to a new employer or your school is converting to an Academy or moving MAT, please do not submit any leaver forms as this will complicate the process – instead there is a staff data capture spreadsheet you can complete on our website.

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