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Finance - Administration Team
Pension Scheme Income And Expenditure Team | Direct Running Costs Team |
The Administration finance team is responsible for:
- all Agency finance in relation to administration income and expenditure (administration expenditure is the expenditure required to operate the Agency and includes staff costs, rent and rates etc.);
- charging pension providers and clients for providing information that is out with normal business requirements, raise invoices for income due to the Agency and ensure that the income is received on time, properly allocated, and debts are properly managed;
- providing secretarial support to both the Agency Management Board and Audit Committee and report to these sub-committees in meeting with corporate governance objectives. This includes providing monthly and quarterly reports to Management and forecasting income and expenditure for the year;
- liaising with the Scottish Government Finance Teams in respect of monitoring exercises and providing information for budgeting exercises and exercises such as the Spending Review;
- monitoring the key targets of the Agency and pulling together the Corporate Plan each year;
- updating the Agency Framework Document;
- ensuring that the Agency Annual Report and Accounts are completed and laid in front of the Scottish Parliament within the statutory timescales. The Agency laid the 2006-2007 Accounts on time.
- produce Scottish Parliament Pension Scheme Accounts
Supplier information
It is our normal practice to award contracts through competition which helps to promote the economy and supports the key elements of Scottish Government Procurement policy. We are also required to abide by international obligations in complying with the European Union Procurement Directives.
The Scottish Public Pensions Agency observes the CBI Prompt Payment code, and British Standard 7890 published in 1996. The latter sets out good payment practice and the roles of buyer and seller, particularly emphasising the need for clarity in the arrangements. The aim is to pay on time, never late but not unnecessarily early unless some early payment discount or other benefit has been agreed. Our interpretation of making payment is when a BACS payment is committed or a cheque is posted. If any invoices have been disputed, the 'clock' should run from the date the dispute was resolved. Performance is closely monitored by H M Treasury against the Scottish Government target of 100% of bills paid on time, and no Department falling below 95%.
It is the Policy of the Scottish Government to pay its suppliers by BACS. All suppliers who wish to deal with the Scottish Government, its Agencies or Associated Departments are asked to provide BACS details. Confirmation of these BACS details is also required on your company headed paper.
Charges for information
| Miss-selling STSS | |
Cost |
Cost Description |
|---|---|
| £100 + vat | Provision of information (fast track) |
| £300 + vat | Provision of information (in-depth) |
| £100 + vat | Restoration procedure |
| Miss-selling NHS | |
Cost |
Cost Description |
| £250 + vat | Reinstatement costing - information supplied by insurer |
| £400 + vat | Reinstatement costing - includes gathering information from employers |
| £100+ vat | Deferred Benefits Statement / Hypothetical Transfer Values / Service Queries |
| Divorce STSS | |
Cost |
Cost Description |
|---|---|
| Free | Initial Cash Equivalent Transfer Value (CETV) is provided free of charge. Thereafter there is an Administration fee of £200 + vat for each subsequent CETV computation provided within one Year of the first calculation. |
| £1120 + vat | If the Agency is required to register and implement an earmarking order. |
| £2300 + vat | If the Agency is required to register and implement a pensions sharing order. |
| Divorce NHS | |
Cost |
Cost Description |
| Free | Initial Cash Equivalent Transfer Value (CETV) is provided free of charge. Thereafter there is an Administration fee of £200 + vat for each subsequent CETV computation provided within one Year of the first calculation. |
| £1120 + vat | If the Agency is required to register and implement an earmarking order. |
| £2300 + vat | If the Agency is required to register and implement a pensions sharing order. |