Importance of correct monthly submissions

We’d like to remind you of the importance of correct monthly submissions.

We’re currently processing over 1,600 revisions to members who retired on 1 September, due to incorrect data being supplied. To put this in perspective, we processed around 12,000 retirement applications at the beginning of September, meaning over 10% have needed rework due to errors that can be avoided.

We’ve multiple resources on our website and training webinars you can attend to help with your submissions and have dedicated pages which hold all the information you need to provide us with accurate data.

If you’ve any issues with submissions, or aren’t sure what needs to be done, you can contact our MDC (This link opens in a new window) or MCR (This link opens in a new window) teams who will support you.

Additionally, if you’d like to better understand how we calculate member benefits, we’ve a factsheet (PDF, 68 KB) (This link opens in a new window) that can help.

Ensuring data is provided accurately the first time prevents us from having to make revisions to pension benefits. These can have a significant impact to a member’s retirement. It’s important to understand your responsibilities, which will prevent revisions from happening in the future, giving your employees the best start to their hard-earned retirement.

 

 

Last Updated: 01/11/2022 16:44