Countdown to end of Contracting-out
07 March 2014
HMRC has published the first in a series of bulletins to keep you updated about activities linked to the ending of contracting-out as a result of the introduction of Single-tier Pensions in April 2016.
HMRC are still finalising their working assumptions and will use this series of bulletins to build up a comprehensive picture of how the changes will be implemented as the proposals on how to bring an end to contracting-out develop.
The following will be covered in this edition:
- Background to the ending of contracting-out including an activity timeline
- The Scheme Reconciliation Service
- Scheme Contracted Out Number (SCON) Mandation
- Apparent Un-notified Terminations (AUTs).