Supply of member information The information requested by STC is required to carry out the joint duties and responsibilities of the employers and the Fund. The employer is responsible for the accurate and timely provision of information to STC and the Fund, including notification to STC that an employee has joined the Fund by providing the appropriate new starter information within 42 calendar days of the employee joining where a member’s personal details change or there is a break in the member’s pensionable service, by providing an appropriate notification to STC within 42 calendar days of the change where a member leaves with an entitlement to an immediate pension, by providing an appropriate termination notification to STC, supporting documents and certificates within 20 calendar days of the member’s last day of service where a member leaves before being entitled to an immediate pension, by providing an appropriate termination notification to STC, supporting documents and certificates within 35 calendar days of the member’s last day of service where a member dies in service, by providing an appropriate termination notification to STC, documents and certificates within 20 calendar days of the death any revised termination details should be provided to STC within 20 calendar days of the event which requires the revision. For example, if arrears of pay mean that the final pay must be revised, the revised figure must be notified within 20 calendar days of the arrears being paid. The timescales are based on statutory requirements. Failure to meet them can result in the Pensions Ombudsman and/or Pensions Regulator issuing fines and imposing other maladministration penalties including naming and shaming. Delays can also result in HMRC imposing penalties, including Scheme Sanction Charges. In circumstances where the performance of the employer results in fines being levied on the Fund and/or STC by the Pensions Regulator, Pensions Ombudsman or other regulatory body, an amount up to the amount of that fine will be recharged to that employer. In addition, there will be an additional charge equal to any associated legal, actuarial and administrative costs the Fund and/or STC has incurred as a result of the employer's action or failure.
Supply of member information The information requested by STC is required to carry out the joint duties and responsibilities of the employers and the Fund. The employer is responsible for the accurate and timely provision of information to STC and the Fund, including notification to STC that an employee has joined the Fund by providing the appropriate new starter information within 42 calendar days of the employee joining where a member’s personal details change or there is a break in the member’s pensionable service, by providing an appropriate notification to STC within 42 calendar days of the change where a member leaves with an entitlement to an immediate pension, by providing an appropriate termination notification to STC, supporting documents and certificates within 20 calendar days of the member’s last day of service where a member leaves before being entitled to an immediate pension, by providing an appropriate termination notification to STC, supporting documents and certificates within 35 calendar days of the member’s last day of service where a member dies in service, by providing an appropriate termination notification to STC, documents and certificates within 20 calendar days of the death any revised termination details should be provided to STC within 20 calendar days of the event which requires the revision. For example, if arrears of pay mean that the final pay must be revised, the revised figure must be notified within 20 calendar days of the arrears being paid. The timescales are based on statutory requirements. Failure to meet them can result in the Pensions Ombudsman and/or Pensions Regulator issuing fines and imposing other maladministration penalties including naming and shaming. Delays can also result in HMRC imposing penalties, including Scheme Sanction Charges. In circumstances where the performance of the employer results in fines being levied on the Fund and/or STC by the Pensions Regulator, Pensions Ombudsman or other regulatory body, an amount up to the amount of that fine will be recharged to that employer. In addition, there will be an additional charge equal to any associated legal, actuarial and administrative costs the Fund and/or STC has incurred as a result of the employer's action or failure.
NCC-Administration-Strategy.docx