Breaking changes
Amend your automated processes
If are using automated processes and you decide to move over to using this spreadsheet, update the process to reflect amendments to existing drop-down lists. Update the values to the following questions to those shown below:
SH 14.0
Yes, the scheme meets the 'Bespoke low-risk scheme' requirements
No, the scheme does not meet the 'Bespoke low-risk scheme' requirements
FIS 6.0
Yes, all active members belong both to a section that provides cash balance benefits and a section which is a collective money purchase scheme
No, not all active members belong both to a section that provides cash balance benefits and a section which is a collective money purchase scheme
FIS 22.0
Yes, there are significant past decisions relevant to the funding and investment strategy
No, there are not significant past decisions relevant to the funding and investment strategy
SAV 2.0
Yes, the valuation includes cash balance liabilities
No, the valuation does not include any cash balance liabilities
CSI 18.0
Yes, the scheme relies on contingent assets to take funding and investment risk above what the employer can support
No, the scheme does not rely on contingent assets to take funding and investment risk above what the employer can support
CSI 27.0
Yes, the recovery plan is longer than the reliability period or more than 3 years
No, the recovery plan is not longer than the reliability period or more than 3 years
SBC 1.0
Yes, the scheme benefit cash flows are provided
No, the scheme benefit cash flows are not provided
Improved features
Amendments to the 'Scheme assumptions over the next 40 years' worksheet
Tab: 40-year assumptions
Location: Column C – Underlying yield curve: forward discount rates over the next 40 years (%)’
You can now input a broader range of discount rate and assumption values, from -25% to 25%.
Bug fixes
Validation and error handling
You can review errors more consistently following improvements to the error messages:
- There is additional logic to ensure you will see error messages when information is required but missing or present but not required.
- Error messages are consistent across the spreadsheet.
- Question IDs are included in relevant error messages. This means that, if information is required or is not required due to information you have entered for previous questions, you can find and amend the answers to those questions if needed.
Validation to ensure an organisation’s Companies House number, Charity number or address is entered
Tabs: Covenant summary information, Employer CF and liquid assets and Guarantees
For non-statutory employers, cash flow entities or guarantees, you are required to supply one of the following:
- Companies House number
- Charity number
- Organisation's name and address
We have added validation to ensure one of the above is captured.
Validation of Companies House numbers
Tabs: Covenant summary information, Employer CF and liquid assets and Guarantees
You can now enter Companies House numbers in all valid formats.
Validation of dates
Dates are now stored as dates and not as date and time.
‘Statement of strategy’ worksheet
Tab: Statement of strategy
We have fixed some punctuation and layout issues on the statement produced from the statement of strategy worksheet, meaning that you will see improved consistency and layout if you use this new version.