Transfers In

New records are entered as Bank Transactions and, once posted, they can be imported to the Transfers In screen.

The main grid just shows the scheme, date and amount. To view the rest of the information or to change any information, select the record and then click amend.

LTA used

The paying scheme will have to notify you of the percentage of the lifetime allowance used up by all BCEs that took place in the paying schemes (and in schemes that paid transfers to that scheme).

The Vesting Events screen allows you to store a record of all BCEs that have taken place for that member including those in previous pension schemes. When a transfer is received from a previous pension arrangement the details of the BCEs may already be stored within that Vesting Events screen. The total of the lifetime allowance used within that previous scheme (as opposed to the individual BCEs) can be stored on the Transfers In screen. If this is done, then the ‘Duplicated on BCEs screen’ box should be ticked to avoid duplication.

By storing this information twice you then have a record of all of the individual BCEs plus a record of the total lifetime allowance used up within each scheme that has paid a transfer value to the scheme.

When the report is produced for the LTA statements (in XLreports via the ‘LTA statements’ option on the Member tab) Omni will include all transfers in the ‘TiD column’ and BCEs in external schemes are ignored.

For the LTA Analysis report on the same tab), where the ‘Duplicated on BCE screen’ box is ticked Omni will ignore those BCEs and will just use the data for BCEs store on the Vesting Events screen. The ‘Duplicated on BCE screen’ box is ticked by default and so you should either enter a percentage for the LTA used or un-tick that box.

Advised?

You can record whether a transfer was advised or not and the XL Reports module will report on this.

Data complete

Transfer values that have been received but the paperwork or information is incomplete can be tracked using an XL report. If the Data complete box is ticked, the report will show that the transfer is complete.

Extra Transfers In

Sometimes an unexpected extra payment or asset is received after the transfer has been processed. The system is explained in Transfers In Extra