PACE: Data template and specification document
Now that we've introduced our new pension administration system (UPM), we will be changing the frequency of the member data submissions we receive from employers. This means that from April 2022, we will require all Phase 1 employers to provide data on a pay period basis (typically monthly), using a new data return template.
To make sure everything runs smoothly, we need you to carry out the following actions:
- Download the new data template from the LPPA website – simply click the link and select ‘download’
- Review the ‘Pensions Data Collection Specification’, which provides a complete list of all the data requirements, along with formats and examples.
- Share both documents with any relevant colleagues (finance, payroll etc.) in preparation for populating and submitting your first regular data submission following the April 2022 payroll.
The benefits to you
- Collecting data more regularly will reduce the number of forms you need to complete. For example, you will no longer need to complete individual forms to notify us about:
- New starters
- Less than three months opt-out cases
- Anyone who elects to move to the 50/50 section
- Anyone who has a change in working conditions e.g. hours.
- Our records will be updated automatically using the information which you provide.
- Data provision will become part of your regular payroll routine.
- Up-to-date pay and data will be held on our records so that members can run their own estimates.
- There will be no year-end files required after 2021/2022.
If you have any questions, please email us at PACE.Employers@localpensionspartnership.org.uk.