Latest Countdown Bulletin published
17 May 2019
The Countdown Bulletins provide important guidance and updates to pension scheme administrators about the end of contracting-out.
This issue includes information about the extension of Phase 7 Automation and Scheme Financial Reconciliation (SFR), which has happened in response to concerns raised across the Pensions Industry.
Although contracting-out came to an end in April 2016, schemes are still submitting termination and transfer notices with end dates on or after 6 April 2016.
The National Insurance Services to Pensions Industry (NISPI) countdown bulletins provide additional guidance for pension scheme administrators to enable them to make sure all individuals contracted out pension rights are secured correctly.
Countdown Bulletin 45 includes information on:
the extension to Phase 7 Automation - SFR
what is happening in the extended period
what this means for Pension Scheme Administrators (PSAs)
what the extended Phase 7 dates that PSAs need to be aware of
how this impacts the previous engagement in the SFR Process
Previous editions of the Countdown Bulletin are also available on GOV.UK.