This is the process to follow for new joiners.
1) Check if the new employee has come from another OSPS employer, are still employed there or has joined you within a month of leaving. If they have they may still be eligible for membership of the old DB section (see below).
2) If the employee is not eligible for the DB Section (as is most likely) then you should complete and return the new Investment Builder starter spreadsheet to us as soon as possible (there is no starter form). You must include all new eligible employees even if you know they wish to opt out as they cannot sign a form to opt out in advance.
- you can put more than one member on the form or individually;
- the default tier is tier 2, but if the member tells you they want to go onto tier 1 or 3 you can put this on the spreadsheet and deduct at this level – there is no need for a member to complete a form;
- new members can change within three months if they change their mind, in which case they should complete and return form APP5DC (pdf) to us – contributions at the new rate can start at the next available pay period (ie not backdated). After the first three months they will have to wait until the following April;
- please note that new employees already in Investment Builder will have to pay on the same tier as they were on at their old employer;
- if we do not have starter details for a new member we cannot send contributions to Legal and General so the starter spreadsheet should be sent us before you send us your monthly remittance.
3) Please ask the new member to complete and return nomination form NOM1 (pdf).
4) It is possible for Investment Builder members to transfer benefits in from other investment-based schemes, so please give members form TVIN1 (pdf) as well.
5) Information about Investment Builder benefits is available on General information sheet INFSHDC (pdf)
6) Tell new members to look out for an email or a letter at their home address from Legal and General. This will give them details on how to log into their account or opt out (if they so wish).
Pensions Office action
When we have received the starter spreadsheet we will inform Legal and General about the new member(s). We usually do this once a month. At this point Legal and General will send new members an email or starter letter to the address you have given on the starter spreadsheet which will allow them:
- to register and log on to their OSPS account held by L&G and update their details, change investment choices and so on;
- follow the process to opt out (if they so wish) before the short deadline given on the letter, in which case any contributions taken will be returned to you via us for reimbursement to the member.
