CS Employers Q1 2024 update
In this quarterly update for employers, we’re bringing together all the critical information and actions shared between April 2024 and June 2024 in one place.
In this quarterly update for employers, we’re bringing together all the critical information and actions shared between April 2024 and June 2024 in one place.
You’ve told us you wanted more clarity on actions you need to take, and better signposting of information and support you can access. We aim to directly address that feedback with this update.
Do let us know what you think via the feedback form below, as your input will help us tailor this update to your needs next quarter.
You must arrange to provide the Scheme Administrator with the required CARE Year end and Pension Input Period data by the deadline dates outlined. 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.
HM Treasury have advised that most Resource Accounts Remuneration reports should be published before Summer recess, which means that the time period for MyCSP to provide information to employers is very short.
The 2015 Remedy has significant implications for this year’s exercise, and we are still working through some of the issues. As a result, we are issuing guidance in two stages this year. The primary purpose of this EPN is to instruct employers to provide a completed Annex 13A and Annex 13B to start the process. A further EPN will follow with more information, including an example Remuneration report.
Registration for the Spring Regional Employer Forums is now open. As spaces are limited please register soon to secure your spot.
In addition to networking, you will receive updates from the Scheme and can participate in panel and roundtable discussions. Representatives from Capita, the future scheme administrator, will be present along with colleagues from the Cabinet Office. You will also have the opportunity to ask questions and share feedback during the event. Lunch and refreshments will be provided, so please inform us of any dietary restrictions when registering.
Keep an eye on the year ahead: The 2024 online scheme year planner is available now.
Have you heard of Pension Power? Pension Power provides members with all the facts they need about their Civil Service Pension via Teams in just one hour. Its free, sessions run daily and we provide tailored sessions for New Joiners too.
Coming this February. In this edition of Hot Topics, we’ll be focussing on Resource Accounts. We’ll be joined by our Training team, who will guide you through what to do if you get involved in this exercise.