2015 new pension scheme implementation programme employer engagement event march 2014
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2015 New Pension Scheme Implementation Programme
Employer Engagement Leads
Julie Stevens – Employer Engagement Lead
The Pensions Schemes Executive - Cabinet Office
julie.stevens@cabinet-office.gsi.gov.uk
Phil Starling – Employer Engagement Lead
MyCSP
phil.starling@mycsp.co.uk
Mailbox
2015employers@cabinet-office.gsi.gov.uk
2 Employer Engagement Event
2015 New Pension Scheme Implementation Programme
Employer Engagement Leads
3 Employer Engagement Event
SupportSupport
EngageEngage
ReportReport
MonitorMonitor
Eyes and Ears
Eyes and Ears
EscalateEscalate
2015 New Pension Scheme Implementation Programme
Contents
4 Employer Engagement Event
•Introduction and Ice Breaker
•Employer Engagement
•Scheme Provisions, System & Process Changes
•Data cleanse
•Options exercise
•Communications
•Introduction and Ice Breaker
•Employer Engagement
•Scheme Provisions, System & Process Changes
•Data cleanse
•Options exercise
•Communications
2015 New Pension Scheme Implementation Programme
5 Employer Engagement Event
• Discuss how we will engage and support you through the 2015 Scheme implementation
• Discuss how we will engage and support you through the 2015 Scheme implementation
Aims
2015 New Pension Scheme Implementation Programme
6 Employer Engagement Event
Turn on your keypad
Press down MENU button for a few seconds and the word Ready will appear.
2015 New Pension Scheme Implementation Programme
7 Employer Engagement Event
Use the down arrow to scroll down to highlight your selection....
Make your selection…
2015 New Pension Scheme Implementation Programme
8 Employer Engagement Event
Confirming your answer…
Then press the SEND key
2015 New Pension Scheme Implementation Programme
9 Employer Engagement Event
How did you travel here today?
A. Car
B. Public transport
C. On foot
2015 New Pension Scheme Implementation Programme
10 Employer Engagement Event
How are you feeling this morning?
Tired/sluggish Up for it!
1 2 3 4 5
2015 New Pension Scheme Implementation Programme
11 Employer Engagement Event
How much do you know about the support we will offer you in implementing the 2015
arrangements?
Very little Everything
1 2 3 4 5
2015 New Pension Scheme Implementation Programme
Employer Engagement Event13 Employer Engagement Event
2015 New Pension Scheme Implementation Programme
14 Employer Engagement Event
How would you like us to support you?support
2015 New Pension Scheme Implementation Programme
15 Employer Engagement Event
EventsEvents
StrategyStrategy
Readiness Guide
Readiness Guide
Employer Impacts
Employer Impacts
Payroll Specificatio
n
Payroll Specificatio
n
Enhanced Data
Validations
Enhanced Data
Validations
Self Assessment
Self Assessment
1-2-1 Readiness
Checks
1-2-1 Readiness
Checks
EPNsEPNs Conference Calls
Conference Calls
2015 New Pension Scheme Implementation Programme
16 Employer Engagement Event
Bill…
...is concerned.
2015 New Pension Scheme Implementation Programme
18 Employer Engagement Event
EventsEvents
StrategyStrategy
Readiness Guide
Readiness Guide
Employer Impacts
Employer Impacts
Payroll Specificatio
n
Payroll Specificatio
n
Enhanced Data
Validations
Enhanced Data
Validations
Self Assessment
Self Assessment
1-2-1 Readiness
Checks
1-2-1 Readiness
Checks
EPNsEPNs Conference Calls
Conference Calls
2015 New Pension Scheme Implementation Programme
19 Employer Engagement Event
2015employers@cabinet-office.gsi.gov.uk
2015 New Pension Scheme Implementation Programme
21 Employer Engagement Event
EventsEvents
StrategyStrategy
Readiness Guide
Readiness Guide
Employer Impacts
Employer Impacts
Payroll Specificatio
n
Payroll Specificatio
n
Enhanced Data
Validations
Enhanced Data
Validations
Self Assessment
Self Assessment
1-2-1 Readiness
Checks
1-2-1 Readiness
Checks
EPNsEPNs Conference Calls
Conference Calls
2015 New Pension Scheme Implementation Programme
23 Employer Engagement Event
Bill...•Knows what to do
•Who to contact
2015 New Pension Scheme Implementation Programme
29 Employer Engagement Event
EventsEvents
StrategyStrategy
Readiness Guide
Readiness Guide
Employer Impacts
Employer Impacts
Payroll Specificatio
n
Payroll Specificatio
n
Enhanced Data
Validations
Enhanced Data
Validations
Self Assessment
Self Assessment
1-2-1 Readiness
Checks
1-2-1 Readiness
Checks
EPNsEPNs Conference Calls
Conference Calls
2015 New Pension Scheme Implementation Programme
30 Employer Engagement Event
Arrears of pay
Arrears of pay Normal
Pension Age to State
Pension Age
Normal Pension Age to State
Pension Age
Effective Pension
Age (EPA)
Effective Pension
Age (EPA)
Final Salary Link
Final Salary Link
Re-joinersRe-joiners
Scheme Differences
Ill-Health Retirement
Test
Ill-Health Retirement
Test
2015 New Pension Scheme Implementation Programme
31 Employer Engagement Event
Arrears of Pay
• Different from nuvos
• Arrears of pay allocated to period earned not when they are paid
• Contribution rate always applicable in the year the earnings are paid
• Different from nuvos
• Arrears of pay allocated to period earned not when they are paid
• Contribution rate always applicable in the year the earnings are paid
2015 New Pension Scheme Implementation Programme
32 Employer Engagement Event
Effective Pension Age
• New product• Additional contributions, buy a lower pension age• Linked to NPA• Buy whole years up to 3 years• Never lower than NPA of 65
• New product• Additional contributions, buy a lower pension age• Linked to NPA• Buy whole years up to 3 years• Never lower than NPA of 65
2015 New Pension Scheme Implementation Programme
33 Employer Engagement Event
Normal Pension Age andEffective Pension Age
REDUCEDREDUCED
UNADJUSTEDUNADJUSTED
UNADJUSTEDUNADJUSTED
ENHANCEDENHANCED
55 65 68
NPANPA
EPAEPA
• Links to State Pension Age
2015 New Pension Scheme Implementation Programme
35 Employer Engagement Event
Final Salary Link
Premium or Classic(Active non-accruing)Premium or Classic(Active non-accruing)
2015 Scheme2015 Scheme
2015 New Pension Scheme Implementation Programme
36 Employer Engagement Event
Ill Health Retirement Test
•Two tiered approach as in nuvos •Employee’s condition has to be permanent until their provisional state pension age
2015 New Pension Scheme Implementation Programme
37 Employer Engagement Event
EventsEvents
StrategyStrategy
Readiness Guide
Readiness Guide
Employer Impacts
Employer Impacts
Payroll Specificatio
n
Payroll Specificatio
n
Enhanced Data
Validations
Enhanced Data
Validations
Self Assessment
Self Assessment
1-2-1 Readiness
Checks
1-2-1 Readiness
Checks
EPNsEPNs Conference Calls
Conference Calls
2015 New Pension Scheme Implementation Programme
40 Employer Engagement Event
Data Cleanse Update
• 195 data cleanse reports
• 342 Conference Calls
2015 New Pension Scheme Implementation Programme
41 Employer Engagement Event
Methodology Issued
Methodology Issued
Data Cleansing
Commenced
Data Cleansing
Commenced
TimescalesTimescales
Data Cleanse Update
2015 New Pension Scheme Implementation Programme
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Data Cleanse Targets
21st March 20144th April 201418th April 20142nd May 201416th May 201430th May 2014
2015 New Pension Scheme Implementation Programme
44 Employer Engagement Event
EngagedEngaged
660,000660,000
Dedicated Team
Dedicated Team
Running Extracts Running Extracts
Daily Targets
Daily Targets
Daily Reporting
Daily Reporting
Trained Team
Trained Team
105,000105,000
HMRC Case Study
2015 New Pension Scheme Implementation Programme
Employer Engagement Event45 Employer Engagement Event
dataintegrity@mycsp.co.uk
2015 New Pension Scheme Implementation Programme
47 Employer Engagement Event
When does the data cleanse exercise need to be completed, for the Tapered Enrolment Group?
A. 31st of May 2014
B. 30th of April 2014
C. 1st of April 2015
2015 New Pension Scheme Implementation Programme
48 Employer Engagement Event
What tabs should you focus on first, in the DataSure report?
A. Red
B. Blue
C. White
2015 New Pension Scheme Implementation Programme
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60%282,000
27%128,000
13%60,000
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“Your Choice” Booklet
Personalised StatementContains:
•Personalised Projection (retaining Tapered Enrolment)
•Response Forms
Contains:
•New Scheme Information
•Signposting to more information
•Checklist
What is in the Options Pack?
2015 New Pension Scheme Implementation Programme
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Online Modeller
• Demonstrates the difference between opting into the new scheme and remaining in current scheme
• Allows users to select the age they plan to retire and take their benefits
• Will be designed with member needs in mind (not pension administrators or IFAs)
Communication Products
•Options Exercise Fact Sheet
•Member on-line video
•Monthly on-line FAQS
•Presentation Slide Pack
•Decision Tree
What else is available to members?
2015 New Pension Scheme Implementation Programme
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Distribution Approach
• Options Packs – Same as Additional Pensions Contributions Letters in March 2014
2015 New Pension Scheme Implementation Programme
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WebpagesWebpages
e-Bulletinse-Bulletins
What does this mean for me?
What does this mean for me?
Online FAQsOnline FAQs
What scheme am
I in?
What scheme am
I in?
www.civilservice.gov.uk/pensions/reform/2015-changes
February 2014
2015 New Pension Scheme Implementation Programme
57 Employer Engagement Event
Member Online
Presentation
July 2014
Member Online
Presentation
July 2014 Options Presentatio
nJuly 2014
Options Presentatio
nJuly 2014
Options FactsheetsJuly 2014
Options FactsheetsJuly 2014
FactsheetsFactsheets
Options Video
August 2014
Options Video
August 2014
www.civilservice.gov.uk/pensions/reform/2015-changes
Future communications
Member Online Video
October 2014
Member Online Video
October 2014
2015 New Pension Scheme Implementation Programme
62 Employer Engagement Event
EventsEvents
StrategyStrategy
Readiness Guide
Readiness Guide
Employer Impacts
Employer Impacts
Payroll Specificatio
n
Payroll Specificatio
n
Enhanced Data
Validations
Enhanced Data
Validations
Self Assessment
Self Assessment
1-2-1 Readiness
Checks
1-2-1 Readiness
Checks
EPNsEPNs Conference Calls
Conference Calls
2015 New Pension Scheme Implementation Programme
65 Employer Engagement Event
How much do you know about the support we will offer you in implementing the 2015
arrangements?
Very little Everything
1 2 3 4 5
2015 New Pension Scheme Implementation Programme
66 Employer Engagement Event
How useful have you found the event today?
Not at all V. helpful
1 2 3 4 5
2015 New Pension Scheme Implementation Programme
69 Employer Engagement Event
Question 1
When do the system and payroll changes need to be implemented by?
A. 1 January 2015
B. 1 April 2015
C. 1 August 2015
2015 New Pension Scheme Implementation Programme
71 Employer Engagement Event
Question 2
When does the data cleanse exercise need to be completed by, for the Tapered Enrolment
group?
A. 31 May 2014
B. 31 September 2014
C. 31 December 2014
2015 New Pension Scheme Implementation Programme
73 Employer Engagement Event
Question 3
Where will you find your roles and responsibilities?
A. Employer Impact Document
B. In the Strategy and the Readiness Guide
C. Payroll Developers Guide
2015 New Pension Scheme Implementation Programme
75 Employer Engagement Event
Question 4
When is the first self-assessment?
A. April 2014
B. September 2014
C. January 2015
2015 New Pension Scheme Implementation Programme
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Question 5
Who should you contact if you are having issues?
A. TPSEemployers@cabinet-office.gsi.gov.uk
B. SMEemployers@cabinet-office.gsi.gov.uk
C. 2015employers@cabinet-office.gsi.gov.uk
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