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Employer Engagement Event March 2014

Employer Engagement Event March 2014

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Employer Engagement Event March 2014

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  1. Employer Engagement EventMarch 2014

  2. 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 Employer Engagement Event

  3. Employer Engagement Leads Engage Support Eyes and Ears Report Monitor Escalate Employer Engagement Event

  4. Contents • Introduction and Ice Breaker • Employer Engagement • Scheme Provisions, System & Process Changes • Data cleanse • Options exercise • Communications Employer Engagement Event

  5. Aims • Discuss how we will engage and support you through the 2015 Scheme implementation Employer Engagement Event

  6. Turn on your keypad Press down MENU button for a few seconds and the word Ready will appear. Employer Engagement Event

  7. Make your selection… Use the down arrow to scroll down to highlight your selection.... Employer Engagement Event

  8. Confirming your answer… Then press the SEND key Employer Engagement Event

  9. How did you travel here today? Car Public transport On foot Employer Engagement Event

  10. How are you feeling this morning? Tired/sluggish Up for it! 1 2 3 4 5 Employer Engagement Event

  11. 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 Employer Engagement Event

  12. Employer Engagement

  13. Employer Engagement Event Employer Engagement Event

  14. How would you like us to support you? support Employer Engagement Event

  15. Events Readiness Guide Strategy Self Assessment Employer Impacts Enhanced Data Validations Payroll Specification 1-2-1 Readiness Checks EPNs Conference Calls Employer Engagement Event

  16. Bill… ...is concerned. Employer Engagement Event

  17. What should he do? Employer Engagement Event

  18. Events Readiness Guide Strategy Self Assessment Employer Impacts Enhanced Data Validations Payroll Specification 1-2-1 Readiness Checks EPNs Conference Calls Employer Engagement Event

  19. 2015employers@cabinet-office.gsi.gov.uk Employer Engagement Event

  20. Sid.. …is too busy Employer Engagement Event

  21. Events Readiness Guide Strategy Self Assessment Employer Impacts Enhanced Data Validations Payroll Specification 1-2-1 Readiness Checks EPNs Conference Calls Employer Engagement Event

  22. ESCALATION Employer Engagement Event

  23. Bill... • Knows what to do • Who to contact Employer Engagement Event

  24. Employer Engagement Event

  25. Employer Engagement Event

  26. Employer Engagement Event

  27. Employer Engagement Events

  28. Scheme Provisions

  29. Events Readiness Guide Strategy Self Assessment Employer Impacts Enhanced Data Validations Payroll Specification 1-2-1 Readiness Checks EPNs Conference Calls Employer Engagement Event

  30. Scheme Differences Arrears of pay Effective Pension Age (EPA) Normal Pension Age to State Pension Age Re-joiners Final Salary Link Ill-Health Retirement Test Employer Engagement Event

  31. 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 Employer Engagement Event

  32. 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 Employer Engagement Event

  33. Normal Pension Age andEffective Pension Age NPA REDUCED UNADJUSTED EPA UNADJUSTED ENHANCED 55 65 68 • Links to State Pension Age Employer Engagement Event

  34. Final Salary Link Premium or Classic (Active non-accruing) 2015 Scheme Employer Engagement Event

  35. Ill Health Retirement Test • Two tiered approach as in nuvos • Employee’s condition has to be permanent until their provisional statepension age Employer Engagement Event

  36. Events Readiness Guide Strategy Self Assessment Employer Impacts Enhanced Data Validations Payroll Specification 1-2-1 Readiness Checks EPNs Conference Calls Employer Engagement Event

  37. Employer Engagement Events

  38. Data Cleanse

  39. Data Cleanse Update • 195 data cleanse reports • 342 Conference Calls Employer Engagement Event

  40. Data Cleanse Update Methodology Issued Timescales Data Cleansing Commenced Employer Engagement Event

  41. Next Steps Employer Engagement Event

  42. Data Cleanse Targets 18th April 2014 21st March 2014 4th April 2014 2nd May 2014 16th May 2014 30th May 2014 Employer Engagement Event

  43. HMRC Case Study Engaged Dedicated Team 660,000 Trained Team Running Extracts Daily Reporting Daily Targets 105,000 Employer Engagement Event

  44. dataintegrity@mycsp.co.uk Employer Engagement Event Employer Engagement Event

  45. Employer Engagement Events

  46. When does the data cleanse exercise need to be completed, for the Tapered Enrolment Group? • 31st of May 2014 • 30th of April 2014 • 1st of April 2015 Employer Engagement Event

  47. What tabs should you focus on first, in the DataSure report? • Red • Blue • White Employer Engagement Event

  48. Options Exercise

  49. 13% 60,000 60% 282,000 27% 128,000 Employer Engagement Event