Countdown Bulletin 53
29 May 2020
HMRC has recently assessed the processes to be completed to allow the issue of the final data cuts and now plan to complete the issue of the data cuts by the end of July 2020. This timeline will be dependent upon the changing departmental priorities at present.
If there are any changes to this date, they will be communicated through the another issue of Countdown Bulletin.
If there is no delay to this timeline and your scheme has not received its final data cut by the end of July, you should contact the Customer Relationship Team by email to [email protected].
HMRC will only publish final data cuts for schemes that engaged with the Scheme Reconciliation Service or have been reconciled as part of the Scheme Cessation process.
On the subject of Guaranteed Minimum Pension (GMP), HMRC are aware of issues raised by pension scheme administrators, where differences have been noted between GMP amounts provided on final data cuts and GMP output by the online GMP checker service.
HMRC advise that on receipt of final data cuts you check the GMP amounts provided against your own records. In the event you disagree the GMP amount provided in your data cut you should use the online GMP checker service
If you cannot agree the GMP output from the online checker this can be queried with HMRC by submitting a query using the template in your Live Schemes Shared Workspace eRoom.
The National Insurance Services to Pensions Industry countdown bulletins provide additional guidance for pension scheme administrators on the ending of contracting-out in April 2016, you can access previous bulletins on Gov.uk.
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