XL Reports – Pension Limit Enforcement

The ‘Pension Limit Enforcement’ option on the Member Tab runs a report to allow you to enforce the pension limits.

A list of all members who have vested funds or have a status of Pensioner (or both) and who have less than 6 months remaining in the current pension year are listed.

These members are sorted so that those nearest the end of their drawdown year are shown first.

The columns included are:

Fund name. Each arrangement is shown as a separate record (Normal, pre 2006 and TiD) because the limits can relate to different dates.

Limit date. The start of the current pension year.

Pension paid to date. If the ‘Pay day’ field on the Benefit Payments grid is used then the payments included are those where Pay day is on or after the limit date. Otherwise, payments are included where the date paid from the scheme is on or after the limit date.

Upper Limit. The maximum drawdown that can be drawn this year.

Months left. The complete months left in the current drawdown year are shown and the members are sorted to show those nearest the end of the pension year first.

Further Scope. The extra pension that can be paid in the remainder of this year.

There are sections at the end of the report for data problems:

No Fund Name. All members where pension limits are stored but the Fund Name has not been selected.

No Limit. All members where a pension or lump sum payment has been recorded in the ‘Benefits Payments’ tab on Omni’s ‘Members, Pensions’ tab but no limit has been stored.