Creating an Annual Returns Report for a Pension Fund
Crafting an annual returns report for a pension fund can vary slightly depending on the provider's specific data requirements. However, the following steps should cover the fundamental elements needed for most reports.
Compiling the Listing Report
Begin by creating a listing report with these key headings:
- Employee ID
- First Name & Surname
- Role Type (Job Category)
- Spine Point Name
- Spine Point Value
- Spine Point Effective From
- Spine Point Effective To
- Employee Full-Time Equivalent (FTE)
- Pension Scheme Membership (including From and To dates)
- Pension Scheme Part
- Pension Percentages Used (Employee and Employer)
- Pensionable Pay
- Actual Contributions (Employee and Employer)
- Hourly Rate for Additional Posts and Overtime
For efficient data management, use Excel to filter this information. Given that Hourly Rates aren't linked to spine points and other categories, consider generating a separate report specifically for them.
Additional Data Reporting
- Whole Time Equivalent Data: It's advisable to run a separate report for FTE and earnings, which can be further analysed and manipulated in Excel.
- Percentage Changes: Include any percentage changes over the year in a separate output, then integrate these details into the main report.
Report Preservation and Future Use
- Saving Reports: We strongly recommend saving any reports you generate. These saved reports can serve as templates or foundations for reports in subsequent years.
Further Resources
- For more detailed guidance on maintaining categories and creating listing reports, refer to the relevant sections in the software documentation: "About Report Categories" and "How to Create a Listing Report."
Following these steps should help you assemble a comprehensive and accurate annual returns report for a pension fund, tailored to meet most providers' standard requirements.
