What exactly is a scheme return?
The online scheme return captures information that the Pensions Regulator will use to identify schemes where there is a risk, or potential risk, to members' benefits. We also use this information to make sure that the register of pension schemes is up to date and to calculate levies. The information is shared with the Pension Protection Fund and the Department for Work and Pensions and the Pension Tracing Service.
Why do we have to complete the scheme return?
Trustees and managers of pension schemes have a legal obligation to supply the regulator with information about their scheme. We use this information to make sure that our register of pension schemes is up to date and to calculate levies. Failure to complete the form could lead to trustees being fined. If you feel you are unable to complete the form for any reason, please contact us immediately on 0870 6063636 selecting option 2 or email us at exchange@thepensionsregulator.gov.uk to explain the situation.
How much time do we have to complete the scheme return?
We understand that you need enough time to complete the scheme return, so we've extended the amount of time you have to complete it to 30 working days.
I'm concerned that we won't be able to complete the scheme return within the required timescale. Can we have an extension?
We're unable to provide extra time to complete the scheme return. We consider the timescale provided to be adequate for completing an online form of this size.
Completing the scheme return is a legal requirement for the trustees or managers of the scheme and it should be treated as a priority.
Whilst we understand that schemes may need to consult with the external partners, the time given should be ample to supply the information. We've taken into account feedback from schemes following previous versions of the scheme return and made some changes:
- this year's scheme return will be largely pre-populated with information that the Pensions Regulator already holds about your scheme; and
- we've given schemes longer this year to complete the scheme returns with an average time of completion of six weeks.
What will happen if we don't complete the scheme return by the due date?
Our approach is pragmatic and proportionate. We would much rather work with schemes and offer them help to complete the scheme return rather than punish them. However, the Pensions Regulator does have the power to fine trustees who reject this offer and persistently fail to submit the required information. Any action will be considered on a case by case basis by our determinations panel.
How can we be sure that this online service is secure?
The online scheme return conforms to all e-government security standards. To put this into context, the scheme return service carries the same security standards as most online banking services.
To be sure you're viewing information across a secure connection, look for the padlock icon on the right hand side of the task bar in your Internet browser.
We operate within the guidelines laid down by the Information Security Management System (ISMS) and our IT Security framework and policies cover the way data is handled. The only data currently shared with other organisations in respect of scheme return information is with the Pension Protection Fund and the Pension Tracing Service. As an organisation we operate a clear data protection policy and an ongoing auditing process.
Our advisers don't have access to the internet, what do we do?
Internet access facilities are available at hotels, conference centres and local libraries for those who do not have direct access.
Most Internet service providers now offer a cheap per minute charged service where a customer only pays for what they use.
A scheme return for a small defined contribution scheme can take as little as 10 minutes to complete online.
I'm an internet novice – what do I do?
We have made every effort to ensure that the web form is as simple and self explanatory as possible.
The website is also compliant with Internet accessibility guidelines to ensure as many people can use it as possible. If you are experiencing difficulties please contact an adviser on 0870 6063636 selecting option 2 or email us at exchange@thepensionsregulator.gov.uk and we'll help take you through the form.
Our scheme is winding up and we don't have all the information the scheme return asks for. What do we do?
It's expected that most schemes that are in wind-up should still be able to complete the scheme return.
If it's not possible to complete a section, please contact a customer adviser on 0870 6063636 selecting option 2 or email us at exchange@thepensionsregulator.gov.uk as soon as possible to explain the situation. We'll then be able to assess these issues on a case-by-case basis.
We haven't received a scheme return yet – should we have?
The scheme return will be sent to defined benefit and hybrid schemes from November 2008. Larger defined contribution schemes will be sent from April 2009, so your scheme return may not have been sent to you yet. If you think that your scheme return has been sent but you've not received it yet please contact a customer adviser on 0870 6063636 selecting option 2 or email us: exchange@thepensionsregulator.gov.uk
How often will we need to complete a scheme return in the future? Will we need to do this again?
Currently, defined contribution schemes with less than twelve members need to complete their scheme return every three years for the life of the scheme. Defined contribution schemes with 12 or more members and defined benefit schemes will need to complete their scheme return on a yearly basis for the life of the scheme.
We've submitted our scheme return but have not received confirmation of receipt. What should we do?
Once you have submitted your scheme return, please print off the last page, this will act as your confirmation of submission. We're encouraging trustees to keep a hard copy of their scheme return for reference. If you want to keep a copy of what you've submitted online, please use the print option at the end of the form.
Can we change any information on the scheme return after we've submitted the form?
Yes, you can change any scheme information after you've submitted your scheme return. Just log in as normal and make amendments to whichever sections need changing.
I've forgotten my password. How do I gain access to the system?
Please select 'forgotten my password' on the login page on the website. After confirming the answers to your security questions you'll receive a link to the scheme return website where you'll be able to pick a new password.
The form won't allow me to fill in any of the fields.
This might be because you're in view mode. Please select 'amend' at the bottom of the page to amend your details. If you still have problems, close and reopen your web browser. If this still doesn't solve the problem and you're sure there are no problems with your computer, please contact a customer adviser on 0870 6063636 selecting option 2 for more help and guidance.
Someone has been trying to phone me from The Pensions Regulator. How do I know who it is?
We can verify all our staff involved with the scheme return process. Please contact us on 0870 606 3636 selecting option 2 if you have any doubts.
I've lost my scheme key.
You'll find your scheme association key on your scheme return notice and any subsequent reminders we send you. If you've lost your scheme return notice, please contact a customer adviser on 0870 6063636 selecting option 2 and we'll be able to re-issue your key.
How can we find information about our scheme?
For many schemes the information we require is very straightforward. Your IFA / scheme advisor / pension provider should be able to supply any information that you don't have in the scheme's accounts, benefit statements, trust deeds and rules.
Can we have our scheme return sent to a different address?
Your scheme return will be sent to the registered scheme address. If you have had your scheme return notice forwarded to you, and the scheme address is incorrect, you can change the registered address when you fill out your scheme return online. If you haven't received a scheme return notice for your scheme and think you should have, please contact a customer adviser on 0870 6063636 selecting option 2 or email us at exchange@thepensionsregulator.gov.uk.
The scheme return contains information about our scheme that we don't recognise. Where did this information come from?
The Pensions Regulator holds a register of work-based pension schemes. This contains information about pension schemes necessary for us to perform our function. It is the scheme trustees' legal responsibility to inform the regulator of any changes to this information.
We made a mistake and entered the wrong information.
Don't worry, please just log on to the website and amend the relevant information. You can do this before or after you've submitted your scheme return.
We have another scheme, can you send me the scheme return for this too?
We'll be sending out scheme return notices over the period of a year beginning in November 2008. The schedule of these notices is based on scheme size and type so the return for your other scheme(s) may not have been sent yet. Please contact a customer adviser on 0870 6063636 selecting option 2 or email us at exchange@thepensionsregulator.gov.uk for more information.
We've received a reminder, but didn't receive the original letter.
The reminder notice will have all the information you need to log on to the website and complete your scheme return.
I'm not sure of the benefit type of my scheme. What do I do?
Your scheme will be either defined benefit, which is a scheme that offers a pension based on your final salary, or defined contribution, which is a scheme that offers a pension based on the amount of cash and assets that you have accrued during your working life. Or it might be a combination of both (hybrid).
If you're still unsure please contact your financial adviser, IFA, actuary or pension provider.
The address information is muddled, why?
Unfortunately a small number of schemes may have had their addresses muddled due to a bug in last year's scheme return. If this is the case for your scheme, you'll be able to amend the address as you complete your scheme return.
We've completed the scheme return for the wrong scheme. What should we do?
If you are the trustee of the scheme(s) for which you've filled out the wrong information, please log in and correct all the information. If you are not the trustee of the scheme, please contact an adviser on 0870 6063636 selecting option 2 or email us at exchange@thepensionsregulator.gov.uk
We don't recognise the scheme we've received a scheme return notice for
If you've received a scheme return for a scheme that you don't recognise, please contact a customer adviser on 0870 6063636 selecting option 2 or email us at exchange@thepensionsregulator.gov.uk before starting to fill out your scheme return.
What is a Companies House number?
All UK limited companies have to register with Companies House. A Companies House reference number is a unique eight character reference number. You can look up a reference number on the Companies House website.
The screen returns to the login page if I've been away from my computer for a while. Why does this happen?
The website is set to log you out if there has been no activity for twenty minutes. This is to ensure that other users who may wish to update details will not be denied access if you forget to log out.
There are no trustees for our scheme, what should we do?
If you believe that there are no trustees for the scheme, please contact a customer adviser on 0870 6063636 selecting option 2 or email us at exchange@thepensionsregulator.gov.uk
We need others (eg financial adviser, actuary) to have access to the scheme, what should we do?
All you have to do is ask them to register in the same way that you did and provide them with the PSR number and scheme key so they can associate themselves to the scheme. Remember that it's the trustees' responsibility to ensure that information is correct and you should only share the scheme key with anyone who you know needs access to the scheme.
I have completed my scheme return for the regulator. Do I also need to do the HMRC scheme return?
Since 16 October 2007 it has been mandatory for scheme administrators of registered pension schemes to provide information electronically to HMRC. To submit information electronically, scheme administrators (also known as trustees or practitioners acting on their behalf) must register with HMRC's Pension Schemes Online (PSO) service. For further information about electronic filing and PSO please go to the HMRC website.
We've filled out a return for HMRC, why do we need to fill out a return for the Pensions Regulator?
The Pensions Regulator and HMRC collect data for different purposes (only a few questions ask for the same information). The regulator's scheme return is for occupational schemes with two or more members and the information is shared with the Pension Protection Fund, the Department for Work and Pensions and the Pension Tracing Service. HMRC, however, covers all schemes.
The Pensions Regulator collects:
- registrable scheme information;
- membership figures for the purpose of the levies;
- trustee, employer, insurer and administrators details; and
- valuation information (including asset and liability information) regarding all large DC and DB/hybrid schemes.
HMRC gather information regarding:
- contributions;
- transfers of sums or assets; and
- income and gains derived from investments or deposits held for the purposes of the pension scheme.
For more information regarding the HMRC return please visit the HMRC website.
Some of the data I provided in previous scheme returns is no longer requested. Why?
We have significantly reduced the amount of data requested and limited it only to data that is essential to us.
What is an investment adviser?
The role of the investment adviser is to provide assistance when choosing your investment strategy. This includes advising on what form of investment strategy is most appropriate for the scheme membership profile. The investment adviser may also be involved in the selection of the fund manager.
What is a fund manager?
Your fund manager would be responsible for undertaking investment transactions on behalf of the fund. This will include disinvestment, and new investment in accordance with a mandate given by the trustees. The investment choices made by the fund manager should be in line with investment principles given by the investment adviser.
Our scheme is wound up. Do we need to complete the scheme return?
If your scheme is fully wound up and all assets and liabilities have been dispersed from the scheme, you do not need to complete the scheme return. If you have received a scheme return notice, please register on Exchange - log on and associate your scheme. You'll then have the opportunity to tell us that your scheme has wound up.
There is only one member in the scheme. Do we need to complete the scheme return?
Single member schemes do not need to register with The Pensions Regulator and therefore, are not required to complete a scheme return. If you have received a scheme return notice, please register on Exchange - log on and associate your scheme. You'll then have the opportunity to tell us that your scheme has only one member.
What about schemes based in the Channel Islands or the Isle of Man?
Schemes whose main administration is in one of the Channel Islands or in the Isle of Man do not need to complete the scheme return as they are not covered by UK legislation.
If your scheme is based in the Channel Islands or the Isle of Man, please contact a customer adviser on 0870 6063636, selecting option 2, or email us at exchange@thepensionsregulator.gov.uk