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

A member of the Employer Team will be in touch to ask if you require any additional support to enable accurate and timely submission of your 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 
  • Do not change the format
  • We will send back any return that does not balance.
  • Use the instructions tab and the sample entry tab on the spreadsheet

30 April - your deadline  

You must send your end of year return to pension.returns@oxfordshire.gov.uk before 30 April . We will be pleased to receive correct  returns before then

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

Between 30 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 the return is complete and formatted correctly

Step 2: Check the contributions detailed on the return balance to those paid over to the bank account during 2018/2019

Step 3 : The EOY return will be compared to your details on our pension system to pick up missing starters, leavers , and payroll number amendments.

Step 4: Consistency checks, such as spot checks on matching reported CARE pay with  contributions paid.

Step 5: 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.

As far as possible we will batch together questions for each employer, acknowledging their work patterns. 

However please note that your initial response may generate further queries: please give as full an answer and  contextual details to support your replies. This often helps.

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 benefit statements to members 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.

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 that part of their pension remains 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, or part time working. 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.