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Pensions Dashboards and Budget Changes - v26.1

Pensions Dashboard - SMPI & Valuation Data Selection

We have introduced Pensions Dashboards capability in advance of the new deadline, allowing our clients to be prepared for their Pensions Dashboard onboarding date. In this release we have made available the option to send SMPI data to the dashboard by auto sending the latest SMPI or providing the option to ‘Select for Dashboard’ a previously generated illustration.

A link to all SMPI’s that have been run for members will now be stored on a new ‘SMPI History’ grid. All SMPI’s that have been run for a member can be viewed from this grid which displays the Run Date and Time and the Estimated Fund Value of the SMPI. When a new SMPI is generated and a link created in the ‘SMPI History’ grid it is automatically selected to be sent to the Pensions Dashboard if ever requested, allowing the latest SMPI information to always be available.

This will offer a seamless, fully integrated process with our own “Dashboard Connect” Integration Service Provider (ISP) solution but can also be utilised with external third-party ISP providers.

Spring Budget 2023

Following the changes confirmed in the Spring Budget on 15th March we have seeded in the new allowances and parameters for the 2023/24 tax year.

Although users were advised prior to 6 April 2023 how to manually update the A-Day Parameters in preparation for the revised limits for the Annual Allowance, MPAA and the Tapered Annual Allowance and the removal of excess lump sum tax charges, default values have been seeded in as part of this release.

BCE Process for Members aged 75

We have enhanced our valuation process to alert users where a member has reached aged 75, and a BCE 5A or 5B is due, but not already been done. This change ensures our users can continue to provide high quality, compliant administration to their members.

Reporting

Platinum’s Report~Pro Server has been extended to include API view enhancements to enable users to further self-serve their individual reporting requirements from Platinum. Changes include the following API views: Properties, TransfersOut and Relations.

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