LTA Abolishment – DBLS Payroll
Following clarifications introduced as part of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 Statutory Instrument, we have introduced changes to the payroll Real Time Information (RTI) Full Payment Submission (FPS) process to enable the payments of Death Benefit Lump Sums (DBLS) through payroll. Changes have been introduced to the beneficiary process, to enable the payment of DBLS without the requirement of a new member record.
Plan Value Status
'Plan Value Status' logic has been updated and simplified. This is now set to one of the following three values: 'Fully Crystallised', 'Uncrystallised' or 'Partially Crystallised.' and is determined based on the member’s plan valuations (CVMs).
PCLS and Regular Payment Profiles
The PCLS and Regular Payment Profile process has been enhanced to allow for the recording of the number of payments required for a given frequency. This has been introduced via a new field 'Number of Payments' within the Regular Payment Profile.
Optional NI Number
In this release we have relaxed the validations in the create, update and view member processes so that new members can be added or edited without the requirement for a National Insurance number. In addition, a new field is introduced for recording that a member does not have an NI number.
Contributions - Update to “Deduct from Pay” field
The regular contribution profile process has been updated to clarify the purpose of the "Deduct from Pay" field. Additionally, this field is now available during the contribution process. When a contribution is created as part of a regular contribution batch, the "Deduct from Pay" value recorded in the regular contribution profile will be automatically reflected in the contribution.
Enhanced Member Search Criteria
Following user feedback we have added ‘Last Renewal Date’ to the advanced filters available for searching on the members landing page. This extends the existing search criteria and found-set function.
Smaller Changes
This release includes many small changes such as updated Report~Pro endpoints for Members Relationships and Tax Codes
Data has been seeded in for Gilt Yield and HMRC Loan Rates