Issue: Introduction of combined Annual Benefit Statements
This Notice will be of particular interest to:
Actions: There is no action for employers to take. However, you will need to be aware of the proposed introduction of Combined Benefit Statements in order to field any questions you may receive from staff.
Timing: In due course
In 2001, The Pension Service (DWP) released a free service to enable employers to combine forecasts of the occupational pension they currently provide for staff with the Inland Revenue State pension forecasts. The Civil Service is taking advantage of this initiative and CSPD is working with APACs to implement it. The purpose of this notification is to make you aware of CSPD's decision to introduce combined Annual Benefit Statements.
CSP has developed PenServer so that it can provide these statements.
The Pension Service requires data on individuals from each organisation in the CSP arrangements. Your Authorised Pensions Administration Centre (APAC) will have responsibility for collecting and forwarding this data.
In order to comply with the provisions of the Data Protection Act, the scheme must obtain members’ consent to release their data to a third party (The Pension Service, DWP in this case). The current format of the Annual Benefit Statement therefore includes a ‘negative consent’ form for members to indicate if they do not wish to receive a combined Annual Benefit Statement. The negative consent form is also included in the New Entrant PensionChoices form.
The member must return the declaration attached to the form to the APAC. There will be no action for those members who wish to receive the new combined Annual Benefit Statement.
When The Pension Service receives the membership information from your APAC they will return to them details of individuals’ State Pension forecast. Your APAC will then then be able to produce combined pension forecasts.
Please note your APAC will not produce Annual Benefit Statements for those people who are not in the CSP arrangements.
On an on-going basis, your APAC will ask The Pension Service for regular updates of State Pension forecasts to ensure they provide accurate information to members.
Contacts:
Enquiries about content:
Employer Helpdesk
employerhelpdesk@cabinet-office.x.gsi.gov.uk
01256 846414
Enquiries about distribution of EPNs:
Judith Hornby
judith.hornby@cabinet-office.x.gsi.gov.uk
01256 846271