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Scottish Life: A division of Royal London

Employer  >  Trustee Zone  >  OPS Matters  >  The Return of the Scheme Return

The Return of the Scheme Return

 

Continuous improvement

TPR has engaged with users and based on discussions and feedback have re-designed the original Pension Scheme Return system. The new system called Exchange has made the completion of the scheme return as simple and straightforward as possible.

Exchange is split into 2 sections, one for updating the scheme return and the second for scheme administrators to update their scheme details. TPR is open online 24 hours a day, 7 days a week so once the scheme return has been submitted there’s lots of flexibility to keep data current.

Key points ...

  • asking for essential information only

  • pre-population of all current data - simply confirm or amend

  • easy to use system with good response times

  • clear information and Frequently Asked Questions (FAQ) guidance throughout

  • fully trained in-house staff to help guide scheme administrators through the process by telephone or email and

  • a longer period of time to complete the return.

    When will I get my scheme return ?

    The first batch of scheme returns for Defined Benefit (DB) and small Defined Contribution (DC) schemes have already started to be issued, so you might have received it already, and will be completed in January 2008 with returns for larger DC schemes following in February 2008.

    Why complete the return online?

    It’s important that information submitted online is accurate as the Pensions Regulator’s general levy and the Pension Protection Fund levy will be calculated using the data held by TPR as at 31 March 2008 and you don’t want to pay more than you have to. There are other benefits as members who have left the scheme can trace the scheme more accurately.

    Need help ?

    TPR has put together a list of the sort of burning questions any scheme administrator might want to ask. If your question is not there then you can contact TPR for more help.

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    © Scottish Life, St Andrew House, 1 Thistle Street, Edinburgh, EH2 1DG.
    Scottish Life is a division of Royal London and markets products produced by Royal London. Royal London consists of The Royal London Mutual Insurance Society Limited and its subsidiaries. The Royal London Mutual Insurance Society Limited provides life and pension products, is a member of the Association of British Insurers and is authorised and regulated by the Financial Services Authority, registration number 117672. Royal London Marketing Limited acts as an insurance intermediary for general insurance products and is authorised and regulated by the Financial Services Authority, registration number 302391.