We are sharing this information on behalf of HM Revenue & Customs (HMRC).
This is additional information from HMRC to support those members who may need further help. There is no change to the process or previous communications.
HMRC Remedy Pension Saving Statement (Remedy PSS) Public Sector Employer Help Card.
There is a specialist HMRC support team.
The Remedy PSS FAQs on the Civil Service Pensions website have been updated.
Actions:
This contains messaging to share with your affected employees.
To note, this is additional information from HMRC to support those members who may need further help. There is no change to the process or previous communications.
Please share this information with affected employees to help them meet their tax obligations. Your ERM has previously sent Remedy PSS MI to you.
If colleagues cannot access or gather the information they need, they should contact HMRC’s specialist team: publicservicepensionsremedy@hmrc.gov.uk or on 0300 123 1079 (select option 1).
Please visit Remedy PSS FAQs on the Civil Service Pensions website have been updated.
Timing:
Immediate.
Detail:
Internal communications message for affected Employees.
Public service pensions remedy (McCloud) – Remedy Pension Savings Statements
If you’ve received a ‘Remedy’ or ‘Remediable’ Pension Savings Statement (Remedy PSS) from your pension scheme with details of your revised Pension Input Amounts for the tax years 2015/2016 to 2022/2023, you might be wondering what it means and what you need to do next.
To receive a Remedy PSS, a member must be subject to the 2015 Remedy and in any year during the Remedy period or 2022/2023 tax year have:
1. Exceeded the Annual Allowance; and/or 2. Earned over £100,000; and/or 3. Requested to receive a Pension Saving Statement (PSS) from us.
Changes to public service pension schemes (known as the ‘public service pensions remedy’ or ‘2015 McCloud Remedy’) might mean that pension-related tax charges you have previously paid need to be recalculated or that new tax charges are due.
The service will tell you whether you’re due a refund of tax you’ve previously paid, to have a past Scheme Pays debit adjusted, or if you’ve got new tax charges to pay. It will also tell you if none of these apply, in which case you will not need to take any further action and you should not require any further information from MyCSP. The service walks you through a series of steps and automatically transmits your information to your pension scheme, where necessary.
What you need to do:
Carefully review your Remedy PSS and consider what it means for you.
You need to make sure you have all the necessary information to hand before you start, which includes:
a) Details of your total taxable income. b) The Pension Input Amounts on your Remedy PSS. c) Details of your personal allowance from 2015/2016 to 2022/2023. You can find this on your ‘P60’ for each year. You can also find the last 5 years of these in the HMRC app. If you cannot find the information, contact your employer. d) Self-Assessment tax returns, if you filed any.
Complete the calculate your public service pension adjustment service by 31 January 2025, or by 3 months from date of issue if you receive your Remedy PSS after 1 November 2024.
If you’re due a tax refund for 2019/2020 to 2021/2022 (inclusive), you’ll be able to provide your bank details via the service so HMRC can pay it to you directly. If you are due a refund for earlier years, or need to reduce a past Scheme Pays charge, your scheme will compensate you. If you have a tax charge to pay, you will have the option of paying this through your pension scheme out of your accrued benefits, rather than out of your own pocket – this is known as ‘Scheme Pays.’
Members should not need to complete Scheme Pays quote requests forms, as HMRC will provide all the required information to MyCSP to adjust an existing Scheme Pays debit, or to set up a new debit.
You should not report any new tax charges for the tax years 2015/2016 to 2022/2023 through Self-Assessment, you need to use the ‘calculate your public service pension adjustment’ service.
See the video and support information on the 2015 Remedy (McCloud) pages on the Civil Service Pension website
You can contact HMRC’s specialist team at publicservicepensionsremedy@hmrc.gov.uk or on 0300 123 1079 (select option 1) for help with information about your taxable income, Self-Assessment returns or personal allowance for previous years.
Contacts:
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.
