New digital pension schemes service is delayed
The launch of the government’s new digital pension scheme platform has been delayed, HMRC has announced.
Under the new system, HMRC is moving pension scheme registration and administration onto a new digital platform, with the stated aim of improving the service for pension scheme administrators.
The new service, called Manage and Register Pension Schemes, is being introduced in two phases. The service aims to:
- provide a digital platform for managing and registering pension schemes
- provide a digital account for all pension schemes and reporting
- issue all HMRC notifications regarding registration
- hold details of existing schemes, pension administrators and practitioners
The first phase of the new service was due to be launched on 8 May 2018, but HMRC has subsequently announced that the roll-out will be delayed until 4 June 2018.
As a result, the planned closure of the existing Pension Schemes Online service has also been delayed.