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SPPA Charging Procedures

Summary of SPPA optional charging as at April 2014

Type

SPPA Activity

Detail

Charge

1

Request for pension estimate by member

Charge applies for multiple requests or additional request within 12 months.

£51 plus VAT

2

Request for Annual Allowance estimate by member / IFA

Charge applies for information in addition to statutory notice received.

£51 plus VAT

3

Request for CETV from member

First request for CETV is FREE. Second request within 12 months is charged.

£308 plus VAT

4

Request for estimate from IFA

As with requests for estimates at no 1.

£51 plus VAT

5

Request for CETV from IFA

As with requests for estimates at no 3.

£308 plus VAT

6

Requests for references and confirmation of income

£25 plus VAT

7

STSS Capitalisation

Any request for Capitalisation.Charge is per capitalisation event

£308 plus VAT

8

STSS Reg E34 Capitalisation

Applies to any request for STSS Capitalisation.

£410 plus VAT

9

Payroll charity collection

This charge is normally fixed

2% charge

10

Charge to employers for one off tasks such as making redundancy calculations

Charge made for Ad hoc tasks which are not core business for SPPA.

A full cost charge should be applied for bulk, one-off tasks.

Hourly charges to be applied.

11

Requests for copies of papers on file from members - including medical papers and subject access requests to documents under data protection

SPPA are permitted to levy a reasonable administration charge to cover the costs (eg photocopying papers).

Charge allowed and set by data protection Legislation.

Charge is £10

12

Request for duplicate P60

£10 plus VAT

13

Request by member to change their mind on the level of lump sum commutation following submission of pension application but prior to payment

Member is not permitted to change their mind once the lump sum or first pension payment is paid.

£100 plus VAT

 

 
 

 

 

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