As we continue to strive towards ensuring our records are as accurate as possible, we have introduced some new checks on the i-Connect data sent to the fund each month.
These new monthly checks are to:
- Ensure all contributing members have submitted monthly CARE pay, employee and employer contributions.
- Verify that submitted employee contributions align with the CARE pay provided, based on the employee contribution rate held. We will query any that are outside of a 5% tolerance.
Should any members fail any of these checks, we will contact you with the queries in a spreadsheet and request your response to help us resolve them quickly.
By performing these monthly checks, we aim to reduce year-end queries and maintain accurate records for members viewing their benefits on our My Pension Online Portal. This also makes sure data is accurate for Annual Benefit Statements.
