The annual allowance calculations will shortly be due for the year 2020/21 for all scheme members currently contributing.
To help reduce the number of individual requests for pensionable pay relating to these calculations, we have identified two categories of members that we consider may potentially breach the current HMRC limit of £40000:
• Employees who receive an annual salary of £90,000 or more per year, or
• Employees that have had an increase in salary over the last year of £5,000 or more.
It may still be necessary to request further pay information for other employees that have differing circumstances, but we hope that by providing these details annually from now on, these requests will reduce in number.
For employees that fall into either of the above two categories, please arrange for the Annual Allowance Spreadsheet, to be completed fully and returned to us by 5th July 2021, or as soon as possible.
Please send the data titled ‘Annual Allowance 2020/2021′ to our secure mailbox at: email@example.com . You may also use this mailbox for queries relating to the spreadsheet and Annual Allowance.