The relevant date is the date from which interest is added to the Scheme Pays balance. This is the 1 January following the deadline for receipt of your Scheme Pays election notice.
The relevant date for tax year 2020/2021 is 1 January 2023.
The relevant date for tax year 2021/2022 is 1 January 2024.
The Scheme Actuary confirms interest must be added to the amount of Annual Allowance charge paid from the 1995 or 2008 Section and 2015 Scheme.
The interest applied each year is based on the previous September's Consumer Price Index (CPI) figure plus the Superannuation Contributions Adjusted for Past Experience (SCAPE) discount rate.
We reserve the right to change the amount of interest charged following guidance received from the Scheme Actuary.