EOY - Over payments & Under payments
If I’ve left or retired, will any overpayments still be returned to my practice?
Your practice is responsible for your pension contributions for any years you worked there, regardless of when your Type 1 or Type 2 forms are submitted.
- If contributions were underpaid:
The arrears will be deducted from the practice in the next contractual statement. - If contributions were overpaid:
The practice will receive a refund in the next contractual statement.
Once your Type 2 form has been reconciled, you’ll need to contact your practice to check the amount deducted from your salary against the contributions due for that year, based on your actual earnings.
How are overpayments or underpayments with my GP practice reconciled?
For salaried GPs, here’s what happens once your Type 2 form has been processed:
- If contributions were underpaid:
The arrears will be deducted from the practice in the next contractual statement.
- If contributions were overpaid:
The practice will receive a refund in the next contractual statement.
Once your Type 2 form has been reconciled, you’ll need to contact your practice to check the amount deducted from your salary against the contributions due for that year, based on your actual earnings.
When making a shortfall payment via BACS/online banking, what should I put as the reference?
Your BACS reference is made up of three parts:
- Your GP Pension Scheme (SD) number - 8 characters
- Payment type - for example, SHO for Shortfall payments (3 characters), ARR for Total Arrears Due (3 characters)
- Date- month (3 letters) and year (4 digits)
For example, if your GP Pension Scheme (SD) number is 12345678, the payment is for a shortfall in pension contributions and it is being made for Pension year 2023/24, your BACS reference would be: 12345678SHOMAR2024