Annual Statements


Annual Statements can be produced via ‘Members, Member Merge’. This statement is designed to produce the minimum required by the disclosure regulations. More detailed information can be produced elsewhere e.g. Reports, Full Scheme Report or Accounts Data.


One statement will be produced for each member of the selected SIPP. Most SIPPs will only have 1 member.


Extra Transfers In (i.e. additional amounts received after the transfer has been completed) are shown on the annual statement in the period that they are actually received.


The Member Status merge field can be used to include conditional paragraphs (‘If … then … else’) in the statement. The field in Word shows ‘Active’ if the Omni Member Status is ;Active’ or ‘Deferred’. Otherwise it is ‘Pensioner’.


The retirement age should only be shown if the member is Active. The label such as ‘Selected Retirement Age:’ can be included within an ‘If’ field so that it is hidden if the member is a pensioner.


There are a series of ‘09’ fields which allow you to automate the tables of transaction data. The ‘Contribution Schedule 09’ field will either contain the text ‘No contributions were received.’, or the heading ‘Contributions received:’ followed by a table of dates, amounts and ‘Employer’ or ‘Employee’. A schedule of tax relief clamed in the period is also shown.


The fields ‘Transfer in schedule 09' and ‘Pension schedule 09' follow the same principles.


‘Current Withdrawal 09’ will be blank if there is no pension stored in the Planned Payments or if the ‘Pension Suspended’ field on the ‘Member, Pensions’ screen is ticked. Otherwise it will show the amount and frequency i.e. 'The current rate of pension withdrawal is £12,000 p.a. (paid monthly)'.


The Vested Funds field has several different formats:


·         No funds crystallised – the field is blank.

·         All funds crystallised before April 2006 – the fields says 'All funds have been crystallised.'

·         All funds crystallised in this scheme after April 2006 – the fields says 'All funds have been crystallised.'

·         All funds derived from one TiD – the field says 'All funds were in drawdown when transferred to the SIPP.'

·         With a mixture of subfunds – the field provides a table of the different subfunds


The Adviser and ‘Adviser addr’ fields can be used to address the covering letter.


The ‘Term to NRA’ field will show the whole number of years between the date the statement is run and the selected retirement date. It can be used to include text in the template if the member is approaching retirement, for instance if the term to NRA is less than 5 years or less than 3 years. If the member status is ‘Pensioner’, then the ‘Term to NRA’ field will be set to 99 so that the approaching retirement messages are not shown for pensioners.


See also -              Arrangements