Don’t forget about the Teachers’ Pension Scheme End of Year Certificate (“EOYC”)
It’s a busy and uncertain time for schools at the moment, so we wanted to take the opportunity to remind you that unlike some of the other school’s financial obligations, this particular return has not been cancelled or delayed as a result of Covid-19.
What is the EOYC?
This certificate provides assurance to the Secretary of State that all teachers’ contributions have been correctly calculated and paid over to the Teachers’ Pension Scheme.
When does the EOYC have to be submitted?
Academies are required to complete and submit the (unaudited) End of Year Certificate for the payroll year ended 5th April 2020 to the Teachers’ Pension Authority by Friday 29th May 2020, followed by the audited version later in the year, no later than 30th September 2020.
What information is required on an EOYC?
The TPA recently issued an e-mail to all Academies during the week beginning 24th April 2020 advising them of the total contributions the authority has received from their particular school/trust for the year. This figure should be matched to the payroll records and included on the EOYC form, split between the contribution tier levels for both employee and employers (this tier information is often provided by your payroll operator).
What’s new this year?
As the employers’ contribution rate increased from 16.48% to 23.68% on 1st September 2019, these are shown separately on this year’s form. You may need to ensure that your payroll provider splits their reports between pre and post 1st September 2019.
Do’s and Don’ts when completing the End of Year Certificate form
The TPA see regular common errors and issues upon receipt of the form. We’ve listed some pointers below to have in mind when completing the form:
- Employer Type – remember academies are ‘Non Local Authority’ employers
- Tier Total & Overall Balance – the total of the employers contributions across the tiers should match both the overall balance and the total contributions made
- Staff who have received pay rises or ‘acted up’ – often the increased pension rate tier is missed or not correctly applied, especially for staff who act-up or in a temporary role
- Opt-outs – You should hold evidence for all staff who have opted out of the scheme
- Underpayments – any underpayments should be paid immediately to the TPA, using a specific underpayment paying-in slip
- Consolidated Returns – Trusts are able to consolidate individual schools onto one Trust EOYC Certificate. This can result in some significant savings on the audit fee of multiple returns. Please speak to the TPA to arrange this
- LGPS/EOYC – The Teachers’ Pension Scheme End of Year Certificate is often confused with the Local Government Pension Annual Return. The LGPS is usually prepared and submitted by your payroll provider, whereas the EYOC must be completed by the trust and signed by an authorised individual (usually the accounting officer).
This year’s relevant guidance on the EOYC, the downloadable copy of the End of Year Certificate form to complete, and an accompanying fact sheet can be accessed below: -
If you have any questions on the End of Year Certificate then please contact one of our Academies experts.