PERSONAL PENSIONS (INCLUDING STAKEHOLDER PENSIONS)
QUESTIONS AND ANSWERS - LEGISLATION AND PRACTICE
Can we not just use existing payment methods and schedules if they appear to meet the requirements?
Do the requirements only apply to plans where the employer is deducting and passing on employee contributions?
Do we not need to show/know salary deduction dates to be able to monitor schemes effectively?
Does it apply to?
Does RPD need signed by the employer?
Does this mean we cannot accept RPDs electronically?
For variable cases will we need an RPD every month?
How will we cover weekly paid cases where contributions are paid on a fixed basis by DDM?
If contributions are fixed and no alterations are expected during the year do they need to send RPD every month?
What about cases which currently have a premium due date before the 19th?
What are the basic requirements?
What are the deadlines for reporting to employees?
What are the penalties for breaching the regulations?
What are the penalties for not meeting the requirements?
What are we legally required to do?
What deadlines are imposed on receipt dates for RPD?
What do we mean by receiving payment?
What happens if requirements are not met?
What if 2 months end up being missing?
What if a contribution is paid after 19th but before a report is due to go to OPRA do we still have to report?
What if employer wants to pay his contributions at a different date to employee contribution submission?
What if payment is received after 19th Due Date but before 30 days?
What if the employer makes a mistake can he just correct the next month?
What if the payment is less than expected?
What if the payment is more than expected?
What is it?
When did regulations come into force?
When is it effective?
Which contracts are affected by the new requirements?
Why was it introduced?
Will the 19th deadline due date mean we need to change premium due dates for all cases paying after 19th of the month?