Employers' Guide
Section 19 - Services TP Can Provide To Employers
Contents
1. Employer Relationship Managers 2. Training for you 3. Training for your members 4. Network meetings 5. Assistance with Annual Returns 6. Administration of Compensation Payments 7. There’s also a Helpline – or two1. Employer Relationship Managers
First, find your ERM
As an employer of scheme members, you should know that you have a dedicated Employer Relationship Manager (ERM) from Teachers’ Pensions available whenever you need support or advice about anything to do with the Teachers’ Pension Scheme (TPS).
They’re part of our new team of ERMs, each one responsible for a particular region in England or Wales. So before you find out just what they can do for you, start by finding your ERM.
Found yours? Put their number into your phone. Key-in their email address. Your ERM is your personal Teachers’ Pensions expert. Someone who is ready to support, encourage and guide you through the challenges of your working day.
Next, meet your ERM
The key letter in ERM is R – R for relationship. That’s what regular visits from your ERM are all about. They do more than put a face to a name. They give you a solid point of contact – one that will support you in your day-to-day administration of the TPS and your discussions with your members about the scheme.
This is what your ERM will do on their visits:
- Ensure you’re up-to-date with the very latest information from Teachers’ Pensions.
- Support you in carrying out your roles and responsibilities.
- Listen to your feedback and use your experiences to continually review and improve the service.
- Share with you what they’ve learned from other employers in your position.
- Make sure you’re maximising the training services available to you.
- Discuss the best ways to support your members so they use the TPS to fulfil their individual pension requirements.
When they don’t call in person, they’ll simply call
Your ERM will schedule a visit to see how things are going and to arrange follow-up support if needed. The rest of the time, they’ll call you with any news or changes to the scheme that you should know about. Of course, you’ve got the option of calling them at any time too. After all, you’ve got their number.
Back to the top2. Training for you
With something as important as administering pensions – where you need to meet legal obligations as well as the service expectations of your teachers – getting it right is a must. One of the best ways of doing that is to update your existing skills and knowledge with regular training.
Free Seminars – regional, flexible and practical
Whether you’re working in HR or Payroll, you’ll have access to free training seminars in your region. Content will be tailored to the experience levels of those attending, so it will always be relevant and a good use of everyone’s time.
Topics that cover the fundamentals will include:
- Scheme Background and Benefits
- Managing Starters and Leavers
- Using the Secure Transfer Facility (STU)
- Completing Annual Service Returns
- Managing Scheme Contributions
Topics that cover more specific subjects will include:
- Teachers’ Career Changes and their pension implications
- Managing Retirement Options
- Death Benefits
- AVCs & Additional pensions
Seminar sessions will run over a whole day and after the seminar you’ll be invited to give your feedback. It’ll help us tailor the session content to ensure the training really meets your needs.
Click here to view our seminar schedule
Webinars – access bite-sized training from wherever you are
Our webinars are free virtual training seminars that you can take part in using your phone and computer. As such, they’re convenient because you can access training from anywhere you can get on the internet. So it could be your desk at work, or your kitchen table at home.
The nationwide webinar programme we propose to roll out will have a similar range of topics as the Regional Training Seminars. However, they’ll be in a more concise format, lasting approximately 30 – 45 minutes.
Let’s look at how a typical webinar will work.
First off, you’ll receive an emailed invitation containing all you need to access the webinar. Once you join the session online it will feel as if you’re attending a face-to-face seminar. Each webinar will be presented by an ERM, with an accompanying freefone conference call audio facility.
After the session, webinars will be archived for you to replay as you need. Webinars will be scheduled on a rolling weekly basis so newer users can cover the main topics during the course of a working week. Try one. This is the most convenient way to update your skills and knowledge.
Click here to view our webinar schedule
Back to the top3. Training for your members
One of the best ways for your members to learn about their pensions and retirement (as well as ask any questions they may have) is simply through presentations direct to them by our Employer Relationship Managers. These sessions will be held regionally and your members will be invited to attend their nearest one, subject to ERM availability.
4. Network meetings
Lots of you have said you’d really value the chance to get together with other employers to discuss common issues and share best practice. Some of these forums are already up and running in a number of regions. However, from November 2011 your ERM will be looking to add new and more structured networking events to these existing ones.
By giving you the option of regular regional events you’ll be able to network and discuss key TP issues – plus enjoy keynote presentations featuring the latest news and developments around Teachers’ Pensions.
Your ERM will be in touch with details of the dates and the locations of new networking events. And if you’ve any ideas or suggestions around the subject yourself, they would love to hear from you.
Back to the top5. Assistance with Annual Returns
All annual returns of teachers’ service and salary data must currently be submitted to TP by 6 July. We are aware that some employers lack the expertise, and sometimes the resources, to achieve this timescale.
So we can visit your premises to assist with the completion and submission of the return, or compile it on your behalf. This service is currently under review until we can better understand your needs and requirements.
Please contact us to explore how we can provide you with assistance to achieve the deadline.
Back to the top6. Administration of Compensation Payments
We can provide a payment administration service of either mandatory, or discretionary compensation, or both if you are an employer within the maintained sector. Reimbursement of the member’s benefits can be made by one of three ways:
- Option A – Pay as you go, which is invoiced quarterly
- Option B – a single actuarially determined lump sum payment to be made in full on receipt of invoice
- Option C – an actuarially determined lump sum broken down into annual instalments including a nominal interest charge payable over 2 – 5 years
If you decide on Option A, you will be required to reimburse us for the lump sum payment before we pay the member.
Should payment be made using Option B or C, the value of the pension will need to be capitalised using actuarial factors based on life expectancy. The factors and an example are available here.
There will be no refund of any portion of the actuarial amount if the teacher dies within a short period of retirement.
If you are an employer in the non-maintained sector, this service is only available in respect of mandatory compensation and payment must be made by one payment of the capitalised cost. You will need to make your own arrangements in respect of any discretionary or additional compensatory payments.
It is also open for us to take over the administration of your existing mandatory or discretionary pension payroll.
We charge an annual administration fee of £92.79 plus VAT per teacher per year for providing the full service. If however, you wish us to only administer discretionary payments, the fee is £28.87 plus VAT per teacher per year.
It is important for you to be aware that the fee for administering discretionary payments will continue to be payable throughout the life of any subsequent beneficiary payments, but the cost of administering mandatory compensation payments will cease upon the death of the teacher.
You should also note that, if you would like us to administer payments on your behalf, you will be required to enter into a contractual arrangement with Teachers’ Pensions.
Benefits of providing this service
For the pensioner:
- Both pensions are paid from one source
- TP have a dedicated call centre for pensioners to ring with any queries
For you:
- A full administration service to include all payment queries, tax, NI, Pensions Increase, and personal detail changes
- We ensure that pensions are ceased in a timely manner upon notification of bereavement, with any applicable family benefits put into payment
- We conduct re-employment monitoring. You may not be made aware of a pensioner being re-employed in another establishment. If a pensioner is re-employed without your knowledge this can cost you money. We are able to monitor this effectively as we hold relevant employment records and are made aware of any changes to circumstances.
7. There’s also a Helpline – or two
For general questions about scheme administration you may find it more convenient to call the Employer Helpline: 08453 003 756. This team will be able to help you with day-to-day queries around key administrative tasks like your Annual Service Return.
And for queries about an individual member try the TP Helpline itself: 08456 066 166
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