Please see the updated guidance for financial advisors and accountants who request Annual Allowance Pensions Savings Statements on behalf of our scheme members.
Bulk Request Pension Savings Statements (PSS)
- PSS requests will be accepted as a bulk request on the SPPA template.
- Financial Advisors and Accountants must complete the bulk mandate to confirm they have the authority from each member they are requesting a PSS for.
- Any requests received before 6 July 2020 will have a PSS issued by 6 October 2020. Any requests received after 6 July 2020 will have a PSS issued within 3 months of request.
- All PSS will be issued directly to the member.
- No Annual Allowance data will be sent by SPPA to Financial Advisors or Accountants.
General Scheme Pays Information
- No Elections forms will be accepted from a Financial Advisor or an Accountant, Pension Scheme Members must complete and sign the election form *link* and submit it to the SPPA.
- All correspondence will be sent directly to the member.
- We are aware that NHS Practitioner members may not have received their PSS to meet the statutory deadlines. Members can submit an estimated Scheme Pays election form which can then be amended if necessary once they receive their PSS.
- SPPA will pay the tax charge of all scheme pays elections received unless the member writes to us to request the application is cancelled as they no longer satisfy the requirements.
- Members have up to 4 years to amend an election.
Financial Advisors and Accountants must ensure that all the NHS (Scotland) members who they represent are informed of the procedure for Annual Allowance to ensure that the SPPA can provide the best Customer Service to all members concerned.