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We have made some changes to the Leavers spreadsheet with the aim to reduce the number of follow up queries. The sections affected are Pension Contributions, LGPS 2014 CARE Pay, Variable/Casual Employee and LGPS 2008 Final Salary Pay.
We are now asking for the LGPS 2008 Final Salary Pay to be provided for all members (except when ‘Leaver under 2 years membership’ or Opted Out where less than 3 months and refunded via payroll is selected). Please see our website for the full description of changes.
We have trialled not having this figure provided and over the last year monitored the impact on the pension calculations. It is estimated that overall, this has caused unnecessary delays on at least 50% of cases and subsequently, processing scheme members benefits.
The new version of the leaver's spreadsheet will be sent out to all employers after the Easter bank holiday, using the contacts we hold within the sign off sheet on the current Leavers Spreadsheet. Please delete the old version you have saved and start to use this new spreadsheet from April. If you use an external payroll provider, please make sure they are also aware of these changes.
Please contact the Employer & Communications Team if you have any questions or concerns about these changes.
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Please remember to submit the HR Authorisation form for any employer led retirements (Redundancy, Interests of efficiency and Flexible Retirement [aged 55 and over]) or where you are enhancing the members benefits.
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In last month’s edition we wrote about pensionable pay and reminded employers that we were in a leap year. Unfortunately this confused some employers for which we apologise for.
We normally talk about having 365 days full time equivalent pay provided and were noting that in a leap year this would be 366 days. This had been added as some employers had adjusted dates they used in their calculations. For instance where a person retired on 29 February 2024 we would expect employers to provide a pay figure from 1 March 2023 to 29 February 2024 – 366 days however some employers were starting their calculations on 2 March 2023 to provide 365 days only.
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 Please could you update your payroll systems and apply the new rates from 1 April 2024.
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Keep us updated with any changes in staff responsible for completing our forms (authorised signatories). This can be done by completing our online form.
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 you are changing your Payroll Provider, please contact the Employer & Communications Team so that we can help you through the process and make sure you retain access to historical payroll information.
TUPEs & New Academies - Please do not complete the leaver spreadsheet if members are leaving your employment and transferring to another employer under TUPE. Follow the process outlined on our website instead.
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Peninsula Pensions
Great Moor House
Bittern Road
Sowton Industrial Estate
Exeter EX2 7NL
Tel: 01392 383200
Peninsula Pensions is provided by Devon County Council and is a shared service with Somerset Council |
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