EPN704 - Review of CARE year-end and five-day Pension Input Period (PIP) (1) (1)
EPN704 - Review of CARE year-end and five-day Pension Input Period (PIP) data submission dates
Audience
Pension leads
Payroll managers
HR managers
Any staff who either submit data to the Scheme Administrator (MyCSP) or manage a shared service or payroll provider who submits end of year data to the Scheme Administrator (MyCSP)
Summary
The timing of your end of year activity is critical to the successful delivery of Annual Statements (Annual Benefit Statements and Pension Savings Statements) and the submission of Annual Resource Accounts (RA) and Annual Assurance Statement (AAS) exercise.
This EPN contains a reminder of the deadlines for submitting your end of year data in 2024.
Actions
You should be aware of the deadlines for submitting your end of year data in 2024.
You should understand the impact caused by the submission of late or incomplete end of year data on the production of Annual Statements (ABS and PSS) Annual Resource Accounts (RA), and the Annual Assurance Statement (AAS) exercise.
You must arrange to provide the Scheme Administrator with the required data (see below).
To be aware that in order for the Scheme Administrator to calculate members’ benefits accurately, you must complete any responses to DVRs (interface errors and warnings) in-month.
For the Scheme Administrator to calculate members’ benefits accurately, you must complete any responses to DVRs (interface errors and warnings) in-month.
Timing
Immediate
Detail
Payroll closure and interface requirements
To meet this year’s deadline for issuing Annual Statements and to help you complete your Annual Resource Accounts and Annual Assurance Statement exercise, you must provide the Scheme Administrator with the following data:
Your regular March interface, no more than two working days before or after your agreed submission date.
Your regular April interface, no more than two working days before or after your agreed submission date.
Confirmation of CARE year-end closure in line with your agreed submission date in either your March or April interface.
Alongside your regular monthly interface, you must also provide the Scheme Administrator with member contribution and earnings data for the five-day period (PIP data) from 01 April 2024 to 05 April 2024.
You must provide this additional data, using a manual interface spreadsheet, alongside your regular April interface on your agreed submission date.
Interface errors and warnings
Please note: for the Scheme Administrator to calculate benefits accurately, you must complete any responses to DVRs (interface errors and warnings) in-month.
Failure to submit your end of year data on time may result in inaccurate Annual Statements or even non-distribution of statements to members who are eligible to receive one.
It is your responsibility to ensure that you do not fall behind with your monthly interface submissions. If you are concerned that you will be unable to meet the deadlines highlighted above, please contact your Interface Analyst at: interfaceteam@mycsp.co.uk to discuss the matter further.
Support available to you
If you have any specific queries in relation to providing the additional five-day Pension Input Period (PIP) you can contact your dedicated Interface Team Analyst (ITA) at: interfaceteam@mycsp.co.uk
Contacts
If you require any further assistance on the content of this EPN, please contact: interfaceteam@mycsp.co.uk
If you have a question about the distribution of EPNs or would like to receive them in a different format, please contact EPN@MyCSP.co.uk.
