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Tax Year End Release 2023 - v26.0

Pensions Dashboard The Pensions Dashboard is being introduced in 2023 and as such the Pensions Dashboard Programme (PDP) has provided a data usage guide which confirms the data which will be required when this comes into force: https://www.pensionsdashboardsprogramme.org.uk/wp-content/uploads/2022/01/PDP-data-usage-guide-January-2022.pdf Although the Pensions Dashboard is initially being introduced for SIPP members, the new fields have been added to all Scheme and Member records within Platinum~Pro. These new fields have been added to the following areas to facilitate the recording of these data items: Members

  • Pension Origin

    • To indicate the type of pension to allow correct signposting to an individual.

  • Details Unavailable

    • For use with a new member or where you need the individual to contact the pension provider directly.

  • Exclude from Dashboard

    • Set where a member is to be excluded from the dashboard.

  • Reason for Exclusion

    • To provide a reason why a member is to be excluded from the dashboard, such as a Date of Death has been set, the member is taking benefits or they’ve transferred out.

    • Upon upgrade, where existing members meet one of the 3 reasons set out above, they will automatically have their “Exclude from Dashboard” set to Yes with the applicable reason.

  • ERI Unavailable

    • To provide the dashboard with a reason as to why valuation details are not available.

  • ERI Warning

    • To provide the dashboard with a warning as to why the valuation details provided may not be accurate.

Scheme Administrator

  • New contact detail fields for Organisations with a role type of “Scheme Administrator” have been added, to enable the correct details to be returned to the dashboard.

Schemes

  • Statement of Investment Principles URL

  • Implementation URL

  • Exclude from Dashboard

    • Set where all members of a scheme are to be excluded from the dashboard.

    • This Scheme level Exclude field will have an addition permission created. Without this permission, a user will not be able to set or update the field.

  • ERI Unavailable

    • To provide the dashboard with a reason as to why valuation details are not available for all members of a specific scheme.

Brands

  • Costs and Charges URL

  • Annual Report URL


Success Toastr (Process Complete Modal)

The process complete modal throughout Platinum~Pro has been transformed to display as a toastr in the top right of the screen.

Users will no longer need to interact with the user interface to close the process complete notification, as this will automatically fade after 10 seconds. Users will also be able to perform other actions while the process complete toastr is displayed. Where users had the option to generate letters on the process complete modal, these will now automatically generate.

Updates to Death Lump Sums

Changes have been made to ensure that the process of recording and paying death benefit lump sums (DBLS) can be carried out for deceased members where their age at death is less than the maximum retirement age (currently age 75). The changes ensure that the member’s crystallised funds can be allocated and paid out via payroll to their actual beneficiaries and additionally that the member’s uncrystallised funds can be paid out manually from the member to any recipient.

Property - Registered Owner Description Field A new field will be displayed on the Property Summary tab when selecting ‘Other’ from the ‘Registered Owner’ field drop down list. This is called ‘Registered Owner Description’ and is available for users to enter free text.

Tax Year Updates The Scottish and UK Income Tax Rate bandings and SMPI Annuity Rates for 2023/24 and have been updated as part of this release.

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