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Open Architecture Reporting, Payroll & Regulation Updates – V26.2

Open Architecture Reporting, Payroll & Regulation Updates – V26.2


21 June 2023

Version: 26.2



Open Architecture Reporting

The Platinum ecosystem includes our Enterprise Reporting and Dashboard server (Report~Pro), that enables client access to a wide range of data sets (views) for plug and play reporting. Platinum’s Data Query API has been “opened up” so that clients can connect other reporting solutions of their choice, for example PowerBI, Tableau. This change gives our clients more flexibility in their reporting choices.

Payroll Enhancements

Our Payroll functionality has been enhanced to recognise and calculate PAYE for members who are paid quarterly, half yearly or annually (in addition to those on monthly or one-off payments) based on the payment profile of the member. One – off payments have also been reviewed and calculations have been introduced to ensure that members will never underpay tax when they receive more than one payment on the same day.

In Specie Transfers

The existing functionality for adding In Specie Transfers In and Out has been extended. In addition to Self-Managed Investments and Properties users can now also select Transaction Level and Valuation Level Portfolios during the in-specie transaction process. The transaction will be recorded on both the Transfer In and/or Transfer Out Master record as either a purchase or sale transaction in the grid of the portfolio selected. Furthermore, users will be able to add unit holding records to the portfolio as part of this transaction which will be recorded against the underlying investment holdings.

Accounting for Tax Validations

Following the Spring Budget announcement on the 15th March 2023 requirements were removed to create Accounting for Tax records where a tax charge was applied on any excess amount, taken as either a lump sum or income, over the Lifetime Allowance (LTA.) In response to this we have removed this step from the BCE creation routine simplifying this process and keeping abreast of current legislation.

Removal of Protection Revocation Validations

This release removes various soft warnings throughout the system that occur when a member with a Fixed or Enhanced protection attempts to contribute to their pension. It also removes functionality that automatically sets the revocation date when a contribution is made where a member has one of these protections.

New Report~Pro Capabilities

Report~Pro has been extended to offer new and extended datasets (views) for Scheme, Properties, Property Leases, Credit Notes, and Invoice Line Items. A new Transfer Out report is also available.

Pension Dashboard Public API Access

Following on from our V26.1 release of Pension Dashboard capability, we have now updated our Public API to support the new dashboard data fields including Scheme, Scheme Administrator Details, Brand Details and Member Personal Details.

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