Annual Returns

What are Annual Returns?

Annual Returns is a spreadsheet for you, as an Employer, to complete. It details each member of the pension scheme you have had over the last year and their pay information details.

It is particularly important that you are up to date with starter and leaver forms and if you believe that any are missing before you submit your Return, please ensure these are sent to us beforehand.

Every three years, we provide the Fund Actuary with data for the triennial valuation. They use the information provided on the Annual Returns to complete the valuation of the Fund; this also determines Employer contribution rates payable. It is therefore essential that the information we receive is accurate and up to date.

We offer Annual Return Workshops each year to all Employers to talk through the requirements, the timetable, run through the Annual Return template and processes for query resolution, along with how to calculate some of the information that goes into the spreadsheet. To book onto any of our current courses please visit: Employer training.

Annual Return example template
Deadlines

All returns must be completed and sent to us by April 30 each year and we ask that a response to queries raised are completed as soon as possible but no later than within two weeks of these being sent.

Annual Returns Process

1. Reconciliation

If the amounts paid over do not match the annual return this will then be queried with the employer to resolve.
Initial checks on annual return data made.

2. Processing of the annual return

Once reconciled the annual return will be processed.
Any information incorrect or incomplete will be queried with the employer.
Any forms or data missing will be queried with the employer.

3. Queries

Queries will be emailed to the employer using a 'query template'.
Employer should complete the template and return to us by email, along with any forms.

Annual timetable

31 March - Annual returns to be sent to employers by email

30 April - Annual returns to be completed by employer returned to Hampshire Pension Services by email

15 May - All returns must be reconciled

30 April - 15 June - Annual returns uploaded and queries sent, resolved by employer and CARE revaluation run

30 June - 15 July - Running Valuation

15 July - Data passed to Fund Actuary

31 August - Annual Benefit Statements produced and available to view

Benchmarking

As part of the Annual Return process, we benchmark all scheme employers on a 'red', 'amber' and 'green' basis for the timeliness of the Return, the financial control (the Return balancing with what has been paid) and data quality in line with the active membership VS queries.

Please note: ratings are based on the data on the annual return.


 Green  Amber Red
Timeliness Return received before 30 April Return received within 1 month of deadline Return received more than 1 month of deadline
Financial control No reconciliation issues Minor reconciliation issues/quickly resolved Major reconciliation issues and/or slow to respond
Data quality No data quality issues (or less than 2% of active membership) Minor data quality issues/quickly resolved (2 to 5% queries) Major data quality issues (5%+ queries) and/or slow to respond

 

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