The annual allowance calculations will shortly be due for the year 2022/2023 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 HMRC limit for 2022/2023 of £40,000:
- 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.
The annual allowance spreadsheet will be forwarded to employers by email shortly.
For employees that fall into either of the two categories, please arrange full completion and return to us by 5th July 2023. If you believe you have no employees that fall into the above categories, please confirm by returning the spreadsheet with the confirmation page completed.
Please send the data titled ‘Annual Allowance 2022/2023′ to our secure mailbox at: finance.pensionstechnicaltraining-mailbox@devon.gov.uk.
You may also use this mailbox for queries relating to the spreadsheet and Annual Allowance.