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  • Monthly Data Submissions

Monthly Data Submissions

All employers are required to submit monthly data files via Employer Hub.

A Final Statement will need to be submitted annually as this is a summary of the whole year and will be used for reconciliation.

The importance of pensionable pay accuracy in your monthly submission data file

Each year, from April onwards, annual calculations commence in order to enable us to produce your members' annual benefits statements. We would like to remind you of the importance of submitting accurate information in your monthly data file. The provision of annual benefits statements to our members is necessary to ensure that we are compliant with The Pensions Regulator's requirements.

Please ensure that all of your monthly data files have been completed and submitted, and that the following pay information is included for every active member:

Column W: monthly actual pensionable pay

The member's actual monthly pay must be accurately reported each month, including any Assumed Pensionable Pay (where applicable): these 12 entries from April to March are totalled so that members' CARE benefits can be calculated for the year.

Column AA: Annual full-time equivalent pay figure

The full-time equivalent pay figure in your March file must be a true reflection of the member's full time equivalent pay for the 365 days prior to 31st March: this figure is used to calculate members' pre-2014 benefits. If you have members that are term-time only, you may find our term-time calculation leaflet useful.

An inaccurate full-time equivalent pay figure can have a substantial impact upon a member's final salary pension benefit calculation which may result in members' benefits being under- or overstated. The consequences of either scenario could have a potentially significant impact on both the member (making financial decisions based upon incorrect benefit statement information) and you, the employer (incorrect valuation results, for example).

As set out in the Fund's Pension Administration Strategy, we will recover the cost of the work involved in relation to the updating of the correct FTE rates based on Fund officer hourly rates.

Producing the File

Your monthly data submissions file is produced using Excel and must be submitted in .csv (comma delimited) format to upload successfully. The Fund has updated our publication icon Employer Guide [3Mb] to assist with setting this up correctly.

The excelfile icon File Layout [33kb] has been created for additional support.

Please use our File Checker (available to download below in a zipped file) to check your file for common formatting issues prior to uploading it through the monthly submission process. This will help you identify any issues that would fail validations in the process, such as missing data/incorrect data format. Please note that the file checker does not check the financial data that you have entered.

Uploading the File

Once your csv file is ready, upload it via Employer Hub. Updated step by step instructions can be found in our Monthly Submission publication icon Upload Guide [3Mb].

If you have any further questions or require additional support regarding the process please telephone our dedicated employer helpline on 0300 111 6516 or email us at wmpfmonthlysubs@wolverhampton.gov.uk.

 

 

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