The MOD has issued the following announcement concerning the delay to Pension Saving Statements. To clarify, the announcement relates to Active members only – it does not apply to Immediate Choice members i.e. personnel who left the Armed Forces before 1 October 2023:
The MOD announcement via DefNet on 23 September 2024 highlighted that Pension Savings Statements for the remedy adjustment period, tax year 2022/23 and tax year 2023/24 will be delayed. Work continues to progress the timelines for the provision of this information, but current estimates are:
- Remediable Pension Savings Statement for Tax Years 2015/16 to 2021/22 to be issued by the beginning of November 24
- Pension Savings Statement for Tax Year 2022/23 to be issued by the end of November 24
- Pension Savings Statements for Tax Year 2023/24 to be issued by the end of January 25.
For the remedy tax years and tax year 2022/23 there is no requirement to report this information by self assessment as it sits outside the standard tax reporting framework. Members will instead use a HMRC ‘calculate your public service pension adjustment’ tool. Further information on this will be included in your pension savings statement and also published under the Pension Savings Tax section of the AFPS gov.uk website when the remedy pension savings statements are issued. A HMRC produced guide on this tool is available at this link CYPSPA-Guidance-Notes.odt (live.com).
Pension Savings Statements for tax year 2023/24 will be issued separately and this information is to be reported in the normal manner via self assessment. For those who are eligible for remedy and affected by the ‘rollback’ the pension input amounts in your 2023/24 statement will be based on your rollback position. For protected members and those not affected by the pension remedy, there is no change to previous years pension input amounts.
To further reduce delay, all pension savings statements this year will be released through SCIO, detail on this will be provided in future announcements. We are also continuing to seek advice on the approach to be taken for self assessment for tax year 2023/24 as delays in issuing pension savings information is not confined to the Armed Forces Pension Scheme. As soon as available, further detail will be released through defnet announcement and single service channels.
