Savings Credit Upratings 2005

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  • #20298
    junderwo
    Participant

    I understand that the savings credit amount, AIF & premium are all uprated from 1/4 April 2005. My question is how do you identify what is an uprating from the ETD output. It rings a bell from last year that it is any change where the start date is between 1.4.05 and 15.4.05 – is that correct?

    #2659
    Mark_Payne
    Participant

    A35 says the uprate dates from “April 2005”, and the way it reads is that they should all uprate together from the same effective date. Why the ETD’s show different dates is a bit of a mystery – but this has been a problem with Pension Credit ETD’s from day one

    A8 & A11/2004 also go on about the date that uprates for Pension Credit should take place and it all points to 1.4.05/4.4.05 (or the first Monday in April).

    I have emailed my district Pension Service Command Manager to try to find an answer and will post the response …

    #2660
    RobBox
    Participant

    Lots of the uprating ETD’s have a second ETD with them for a date in May or June which would appear to take into account any uprating (automatic or otherwise ) in a customers private pension.

    I hope I am right in thinking that these should be actioned as a seperate change from the Monday following the change as well as the normal 1st of April uprate?

    Also some have further information about changes in 2006??? This bit has totally foxed me!

    #2661
    ptucker
    Participant

    We have also found on these that when checking against the RAT that there have been changes to the AIF since April 04 which we have been unware of. Therefore if we were to amend these cases in line with what we have discovered on the RAT then we will be causing overpayments. The problem is can we assume that customers were notified of these changes by the PS? Presumably they would have received increases in their savings credit payments. Has anyone else got this problem and what are they doing with those cases.

    Thanks

    #2662
    Darren Tompkins
    Participant

    We have also come across some ETD’s were the PC rate has changed since last April without being notified. As the customer does not need to inform us in changes in income we cannot create an overpayment. We are therefore only inputting these changes from when we were notified by the Pension Service.

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