Timeframes for pension withdrawals?
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Hi Mike
Payroll is run, HMRC are informed and the paperwork between payroll and HMRC is run, while this is in action funds will be requested.
Once the paperwork is complete a payslip is created and payment will be made
Cheers
Nik -
It is all run via Quai/IM with an external payroll provider running that part.
We have looked at options to track additional stages on the dashboard and will add some additional check points when we make the platform changes we are working on.
With pension withdrawals there are a lot of moving parts and reliance on this parties, but we should be able to add key stage updates
Cheers -
hi Mike
As I said in my e-mail to you ahead of your application, the process has been changed due to FCA regulatory changes and landed with very little notice, so the current process is lumpy and was implemented as best as it could be given the notice period. It will ultimately all be automated again
Cheers Nik -
Okay.... Darrell has sent two forms:
- Accessing Pension Benefits Advice Declaration
- Points to Consider when taking benefits from your pension
She has managed to edit them (no easy feat with a pdf!) & sent them back
.... but a slight concern remains that his letter ended with "Once we have received this confirmation, we will issue you with a My Choice of Pension Benefit Form and a Points to Consider form."
....it feels like those are the two forms he sent her?!
Hopefully it can all proceed with no issues. It's a piffling amount really, but she does want to get the maximum she can for FY25-26!
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Then Amy sent another email to request confirmation.
Now Ryan has sent another.
This starts to feel pretty obstructive!
THREE different people.
Good grief!
Christine has replied to Ryan, and asked him to confirm that there is nothing else needed....& that this should still complete within this tax year.
Fingers crossed! -
It sounds like they’re being thorough