Our Pension recalculations (also known as the ‘pension freeze’) occur in the first week of July. During this time, we recalculate pension amounts for the new financial year.
Please note, no pension payments (except for fortnightly pension payments) will be made to your clients in the first week of July while the pension recalculation is occurring.
You’ll have until 30 June each financial year to ensure the pension settings are correct online for the July pension recalculation. You can do this after the June pension run occurs.
We’ll send an email in June to all advisers with pension clients to remind them to check and update this information online before 30 June.
We recommend checking all pension amounts and frequencies are as intended following the annual recalculation and before the July payment.
There is usually only a small window (approximately three days) to go online and make any adjustments after the pension freeze is lifted and before the July pension payment occurs.
You can amend your client’s pension details as needed in Adviser Online. See Change pension payments for more information.
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