Can pension scheme administrator charge to confirm pension input amount for tax year 23/24?

Workerbee999

I have asked my scheme administrator to confirm my pension input amount for last year and they have responded that they will only calculate it if I pay a fee of £80. Can they do this? 

It’s Railpen ( for the RPS) and they don’t send an annual statement aligned to the tax year with it on, instead I get an annual prediction aligned to my birth date. With AVCs in the same scheme I planned to be close to the AA and have tried to model the pension input amount, I just want to check I have done it correctly.

Thanks

hugheskevi

It is probably a misunderstanding of what you asked for.

If you ask to be sent a Pension Saving Statement for 2023/24 the scheme has to send one by 6th October. That will show your Pension Input for 2023/24 and the previous 3 years.

Workerbee999

Hi. I didn’t ask for a pension savings statement, but I did ask them to confirm my pension input amount for 23/24 and this was the response I got. The only potential confusion I can see is the response mentioning financial year rather than tax year - I cannot see the message I submitted now, but why would anyone want pension input for anything than the tax year, it still seems obvious to me.

I will have to phone them, but just to be clear, if I specify I want a “pension savings statement for the tax year 2023/24” do they have to provide (by 6 Oct) free of charge?

Your Pension Input Amount for the year 2023/24

To calculate the Pension Input Period for the financial year 2023/24, there is a charge for the administration fee. The charge is £80.00 and we would be grateful if you could arrange to make payment.

hugheskevi

Yes, it will be free. Make sure that the person you speak to doesn't confuse it with a request for an Annual Benefit Statement.

YBR

Just to check ... Is your RPS section defined benefit?

otb666

If you set up online with them you can access your wage slips and p60 https://myeonpension.com/

doodling

Hi,

otb666 said:

If you set up online with them you can access your wage slips and p60 https://myeonpension.com/

That is the wrong website, unless there has been an unexpected, and extremely unlikely, merger between the Eon and Railway pension schemes...

cloud_dog

Workerbee999 said:

Hi. I didn’t ask for a pension savings statement, but I did ask them to confirm my pension input amount for 23/24 and this was the response I got. The only potential confusion I can see is the response mentioning financial year rather than tax year - I cannot see the message I submitted now, but why would anyone want pension input for anything than the tax year, it still seems obvious to me.

I will have to phone them, but just to be clear, if I specify I want a “pension savings statement for the tax year 2023/24” do they have to provide (by 6 Oct) free of charge?

Your Pension Input Amount for the year 2023/24

To calculate the Pension Input Period for the financial year 2023/24, there is a charge for the administration fee. The charge is £80.00 and we would be grateful if you could arrange to make payment.

Hi...This may seem a stupid question but why are you asking for the PIA for 23/24?  A PIA for 23/24 has no relevance to the potential PIA for 24/25, and the 23/24 PIA is only relevant to contribution bandwidth (AA) and money deposited for 23/24.

Apologies if this is obvious, but I am curios as to what the PIA for the last FY will give you?

I used to have to have AVCs in addition to the DB and requested PIAs, but always within and for the current FY.

Workerbee999

YBR said:

Just to check ... Is your RPS section defined benefit?

Yes it is DB

Workerbee999

cloud_dog said:

Workerbee999 said:

Hi. I didn’t ask for a pension savings statement, but I did ask them to confirm my pension input amount for 23/24 and this was the response I got. The only potential confusion I can see is the response mentioning financial year rather than tax year - I cannot see the message I submitted now, but why would anyone want pension input for anything than the tax year, it still seems obvious to me.

I will have to phone them, but just to be clear, if I specify I want a “pension savings statement for the tax year 2023/24” do they have to provide (by 6 Oct) free of charge?

Your Pension Input Amount for the year 2023/24

To calculate the Pension Input Period for the financial year 2023/24, there is a charge for the administration fee. The charge is £80.00 and we would be grateful if you could arrange to make payment.

Hi...This may seem a stupid question but why are you asking for the PIA for 23/24?  A PIA for 23/24 has no relevance to the potential PIA for 24/25, and the 23/24 PIA is only relevant to contribution bandwidth (AA) and money deposited for 23/24.

Apologies if this is obvious, but I am curios as to what the PIA for the last FY will give you?

I used to have to have AVCs in addition to the DB and requested PIAs, but always within and for the current FY.

I contributed AVCs last year at the max level I expected to be possible based on my modelling of what I thought the pension input amount was for the DB part for 23/24. I just want to check I got it right before setting my AVCs level for this year to maximise my use of carry forward.