The latest updates for pension scheme administrators about the ending of contracting-out have been published in countdown bulletin 40.

The update includes details on:

  • Scheme Financial Reconciliation – in particular, the implications if you do not request your financial position
  • Contributions Equivalent Premium guidance – HMRC has promised to publish guidance about the ongoing administration of contracted-out pension rights soon
  • Clerical Scheme Reconciliation Service (SRS)
  • SRS Stalemate Queries.

Although the contracting-out was abolished in April 2016, there has been a three-year transitional period, of which we are now reaching an end.

Find out more about how pension scheme administration is affected by the ending of contracting-out, including how it affects pension entitlements, notifications and Guaranteed Minimum Pension calculations.

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