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Annual Payment Frequency For Pensioners???

Update to CWG2 for RTI & PAYE

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I would appreciate a bit of advice please as I'm worried I've missed something regarding PAYE and RTI.

We operate a payroll for about 20 pensioners in flexi access drawdown. In the latest HMRC newsletter is directed us to the CWG2 rules and under section 2.2.6 it states that 

"If part of the fund is withdrawn and payments are regular...for pay Frequency select "annual".

The implication from this is that irrespective of the actual frequency, we should be using annual - this will affect those taking a regular monthly income and so it seems odd that HMRC would enforce this.

Has anyone else seen this or applied this?

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By jcace
19th Jul 2018 13:49

Interestingly, the current version of CWG2 doesn't state that, but the previous year's did.
I have no experience of dealing with pension scheme payrolls, but it does seem a little odd.

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to jcace
19th Jul 2018 14:00

i've just been back and it has been updated on 17th July (previously it was dated June) to state that you should use an appropriate frequency, which i wouldn't have done without your comment so many thanks for pointing that out.

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