Year-end requirements | Oxfordshire County Council

Year-end requirements

Summary of the timetable and details the fund needs at the end of the scheme year from each employer

Key dates

End of year is 31 March 

Ensure you have resources to submit correct and reconciled information and to deal with any ensuing queries.

Early February

Employer receives end of year spreadsheet (see below) with guidance notes. Contact Pension Services immediately if you have any questions or require additional training. 

Early March

You will receive a reminder email and also the vetting checklist, prepared to help you check your annual return.     

Your quick check

  • Do not submit your return if there are discrepancies between the contributions you have paid over the year and values shown on the end of year return 
  •  We will send back any return that does not balance.
  • Use the vetting checklist

19 April 2018 - your deadline  

Pension Services must receive your return by 19 April. You can send correct returns before then

  • All returns must be signed as correct and reconciled by an employer’s authorised representative     

Between 19 April and 31 July

Systematic work on the end of year details. Pension Services will confirm receipt and keep you in touch about queries and follow up timetables.  

The outline of our process is:  

Step 1 : Check reconciliation, the EOY return will be compared to our pension system to pick up missing starters, leavings, payroll numbers amendments.

Step 2: Consistency checks, example include spot checks that reported CARE pay matches contributions paid.

Step 3 : Final Pay Comparison (we use a tolerance of 10% when comparing to previous year) We will send queries when we do not hold information on file to support the reason for the change.

Step 4: Prepare to send annual benefit statements.

As far as possible questions will be returned in batches to employers, acknowledging their work patterns. 

Please be aware that your initial response may generate further queries, providing full contextual details to support a reply is often useful.

If you feel a data extract will be helpful to your reconciliation process we can provide this information on request.

31 August

Last date for issuing member benefit statements based on the year end details from employers.

End of Year (EOY)

The spreadsheet

Please read all parts of the spreadsheet - The first section has a column by column instruction guide to the main end of year return’ on the second tab.  There are examples on the third tab.

Vetting checklist

Responding to employer requests - we will send you a checklist in your reminder email 09 March 2018. Use this to double check your  return to spot any anomalies before you submit.

Send in your checked, reconciled return as soon as possible.

Help and examples

Final salary pay – pensionable pay defined and practical examples to demonstrate variations.     

Background

The LGPS is now a career average revalued earnings (CARE) scheme. However many members  keep their links to the final salary scheme.

These members do not build up ‘service’ or ‘membership’ after 31 March 2014, but their pension is linked to pensionable pay under the definitions of the 2007 regulations. Their annual statements must give a current valuation, so final salary pensionable pay link is still alive and must be reported at year end.

A quick rule of thumb – report the average for the whole year, as if the member had worked full time, whole time throughout the year - no gaps  for reduced pay or absence. We do not want the annual rate at 31 March

This is why we need to know ‘final salary pay’ based on definitions of pensionable pay in the previous LGPS regulations for each employment (see column N on the spreadsheet return above).

Further information

Contact us with questions you have about this process noting 'year end' in the subject field.

Last reviewed
05 February 2018
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