At least once a year, usually with the annual statement or report.
The records that we keep have to be detailed so that the correct payments are made at the right time. Our computer system holds in excess of 65 million individual National Insurance records. The more information we hold about each employee, the less room there is for errors. The process of payments depends on records, which go back several years being correct. The computer system identifies schemes and their members by the Employers Contracting-out Number (ECON). This must be quoted on the P35 when P14’s are submitted so that we can identify all employees who are members of an employer’s Contracted-out company pension scheme. We need the Scheme Contracted-out Number (SCON) for employees who are members of COMP schemes or COMP Stakeholder Pension Schemes. This enables payment, where appropriate, of any Age Related Rebates (ARRs) for members of pension schemes.
The tables are included in the employers pack on the employers CD ROM which is issued once a year. They are also published on this Internet site. If you need more copies, please telephone the Employers Orderline on 084576 46646
This category was introduced from April 1997 and applies to members of COMP schemes or the COMP element of COMB schemes. Prior to this date, members of these schemes paid Category D National Insurance contributions.
When the employer started his Contracted-out pension scheme he will have received his copy of the Contracted-out certificate from HMRC. The ECON and SCON are shown at the top of the certificate.
