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Top Exchange queries

  • Forgotten password for Exchange

    On the Exchange login page there is a link to reset your password. You will need to input your email address you use for your account and then answer your two security questions in lower case.

    If you have forgotten the answers to your security questions, please contact us and we will reset these for you.

  • Exchange security question answers not working

    If you have forgotten your password for Exchange please ensure you enter the answers to your security questions in lower case.

  • Associate to a scheme

    You will need to ask the trustees of the scheme to associate you on Exchange. They can do this by logging into the scheme record on Exchange and selecting 'manage who can access this scheme online'. They will need your email address to complete the association of the scheme.

  • Access a previous scheme return

    Log into Exchange and select ‘update scheme details’ or ‘complete outstanding scheme return’.

    If there is already an outstanding scheme return on the scheme, you will need to answer the initial questions before being able to access copies of your previous return.

    Once you are on the ‘scheme maintenance’ page or ‘scheme return overview’, there will be a link with a PDF sign next to it called ‘print options’. Your historic scheme returns will be listed here and can be printed or viewed in PDF.

  • How to pay the levy

    You can pay the levy by logging into Exchange, under scheme options click on ‘maintain / view scheme levy and then you will be able to either set up a direct debit or pay by debit card.

    Alternatively, you can pay via cheque or BACS / CHAPS transfer. The details of which are located on the back of your invoice.

    We are unable to accept payments by credit card.

    Please quote the Pension Scheme Reference (PSR) number as the payment reference.

  • How to print the levy invoice

    Log in to Exchange and click ‘select’ on the relevant scheme record and under the ‘scheme options’ section you will be able to view your levy invoices on ‘maintain / view scheme levy'.

Accessing Exchange

  • What is a PSR?

    A Pension Scheme Registration number (PSR) is issued to a scheme once it has been registered with The Pensions Regulator (TPR). Most occupational and personal pension schemes have to be registered with TPR. A scheme must be registered with TPR if it is, or becomes, a registrable scheme. Registrable schemes include occupational or personal pension scheme which have two or more members and which have been registered with HM Revenue and Customs. There are other criteria which make a scheme registrable, too.

  • How do I access Exchange?

    If you've completed a scheme return online you'll already have access to your scheme's details online and all other Exchange services. If you need to access a scheme for the first time, you will need to contact the scheme trustees who can grant you access by logging into the scheme on Exchange and selecting 'manage who can access this scheme online'. They will need your email address to complete the association of the scheme.

  • My scheme is a segregated / sectionalised scheme. Will I be able to update my scheme / section details online?

    Once a scheme has been segregated into more than one section each with a separate PSR number, you will no longer be able to access the scheme information against the previous scheme PSR number via Exchange. However, you will be able to update the scheme details for each section via Exchange in the normal way.

    Each section will be required to complete a scheme return when requested to do so.

  • How much time do I have to update Exchange after a change to the scheme has taken place?

    You should update changes to your scheme's details as soon as possible and for registrable information as soon as reasonably practicable.


Pay the levy


Recovery plans

Reporting material payment failures

Segregated and desegregated schemes

  • How do I submit a segregation request?

    Segregation can only apply where a scheme includes DB benefits. It is not possible to have a segregated sectionalised scheme where the only benefits in the scheme are DC.

    The segregation request can be requested via Exchange by selecting scheme options and 'submit / view a segregation request'.

  • What information does The Pensions Regulator require?

    Complete the relevant fields and use the help text buttons (by selecting the question mark icon exchange help icon ) to help you complete the fields. Once TPR has received your submission, we will contact you if we have any queries.

    Please note that before you submit the segregation request, it will be useful to ensure you have retrieved and retained all information you need on the current scheme details in Exchange. To do this, go to Exchange and navigate to the scheme details page. Select 'print options' and view the current details. This can be saved as a PDF.

    Once a scheme has been segregated into more than one section each with a separate PSR number, you will no longer be able to access the scheme information against the previous scheme PSR number via Exchange. However, you will be able to update the scheme details for each section via Exchange in the normal way.

  • How long does it take for TPR to create the new sections?

    We aim to process these requests within 10 working days.

  • What action must I make after the scheme has been segregated into sections?

    When the scheme has been separated into sections each with a new PSR number, you will be notified so that you can complete the full details for each section via Exchange.

    You will then need to contact the Pension Protection Fund (PPF) to make them aware of the new sections and for them to confirm whether they have any requirements.

    You must also consider whether you need to report to us if a notifiable event has occurred if benefits have transferred from one scheme to another.

    Once the new sections have been created, you will be required to submit block transfer certificates via Exchange from the scheme into each relevant section. Please contact us to help you submit the block transfers. You will no longer have access to the main scheme details in Exchange to do this yourself. Transfer certificates must be completed before the end of June following the date on which the scheme has segregated into separate sections. PPF require the block transfers certification to be completed by 5pm on the last working day of June each year.

    Following the segregation into separate sections, please consider the position regarding any contingent assets. Where a contingent asset certificate is to be registered against a specific section of the scheme, please ensure that the contingent asset is registered against the appropriate section via Exchange. The PPF require all contingent asset certificates to be submitted before end of March each year.

  • I already have a scheme and we are receiving a transfer from another scheme which will be held separately from all other assets and liabilities of my scheme. Do I use segregation for this?

    Yes, please contact us in order for us to explain how we can process this for you.

  • My scheme has formally ceased to be a segregated sectionalised scheme, what do I do?

    If a scheme has formally ceased to be a segregated sectionalised scheme or should never have been changed into one, please contact us in writing confirming the full reason behind the decision and enclosing legal documentation confirming the requirement to change the scheme so that it is not longer a segregated scheme.

Valuation submission acknowledgment letters

  • What is changing to the process of submitting my scheme valuation through Exchange and why?

    Nothing material has changed to the way in which you submit your valuations through Exchange. Please follow the normal processes that you have used to date. However we have updated our internal filtering approach to actuarial valuations that are subject to Part 3 of the Pensions Act 2004 – this relates to most defined benefit pension schemes or pension schemes with a defined benefit element.

    We have made this change so that we can focus our resources and intervention on schemes that we believe pose the greatest risk and where our intervention may have the greatest impact. This change to our filtering process will also have an impact on what communication you receive from us in respect of your valuation submission. You will see changes to letters from June 2013 onwards.

  • What does that mean for me as a trustee?

    After filing a summary of your valuation and related documents with us in the past you may have received a letter from us that confirmed we did not intend using our scheme funding powers in respect of that valuation – the letter may also have had some more generic feedback in respect of assumptions, employer affordability and / or other regulatory matters.

    With effect from June 2013 we have changed the style of this letter to be a simple acknowledgement and no comments will be made.

  • What does that mean for me as an adviser to the scheme?

    We will not be providing the high level feedback that we have previously provided in our correspondence.

  • Will you be providing any feedback at all going forwards and what will this look like?

    Yes – but only following interaction with a case team. In the past you may have received some quite specific feedback from us in respect of your scheme’s actuarial valuation in circumstances where we did not investigate your scheme any further following our initial review.

    Going forward we will only be providing feedback to those schemes which we have investigated further. In those instances any feedback provided by us will also be more focused on the specific issues of your scheme.

  • How long will it take you to respond once I've filed my summary valuation?

    Once you have filed your summary valuation on Exchange you will receive an email confirming the information entered has been received successfully and that no further action is required from you at this time.

    We will then review your valuation submission and contact you again (as explained further below).

  • How will I know whether you have further questions regarding my scheme's valuation?

    Once the valuation has been through an initial high level review process you will either receive a valuation submission acknowledgment letter or you will be contacted by a case manager. Due to the fluctuations in the levels of submissions throughout the year we are unable to provide a firm indication of how long it will be before this second communication is made.

    However, we aim for this to be within three months of your submission through Exchange. We may further develop the communication, its method and the process around it later in the year.

    The valuation submission acknowledgement letter confirms that we have no further questions in respect of the valuation submission.

    View a sample copy of the valuation submission acknowledgment letter (PDF, 91.1kb, 2 pages).

    In the event that we do have further questions you will be contacted by one of our case managers. 

  • How will I know if you wish to engage with the trustees further in relation to the scheme's valuation?

    The scheme will be contacted by one of our case managers to inform the trustees that the valuation is one which we would like to explore in more detail and discuss how to take this forward.

    Our first step is likely to be a request for further information to understand the decision-making process and the overall funding proposal.

  • What sort of information are you likely to ask me for?

    That depends on the reasons why we wish to explore the valuation further. Our defined benefit (DB) annual funding statements detail the areas that we are likely to focus our attention on.

    You can find our DB annual funding statements for 2012 and 2013 in our statements section.

  • I have already filed my valuation through Exchange and received an automatic acknowledgement email - will I receive any further correspondence from you?

    Yes – depending on whether or not we wish to explore your valuation further with you, you may receive a valuation submission acknowledgement letter or be contacted by one of our case managers.

  • I filed my valuation some time ago - why haven't I heard anything?

    We appreciate that some trustees have already completed and submitted their valuations through Exchange a few months ago and have not yet had a response from us other than the system generated email receipt.

    This is because we held back the early Tranche 7 Valuation submissions (valuations with effective dates between 22 September 2011 and 21 September 2012) in order to compare the actual funding of Tranche 7 Valuations with our expectations and to ensure that our filter was set appropriately so we engage further with the right schemes.

    This is something we have done for the last few years and has helped us to focus our resources more effectively and to better target risk.

  • Can we get more detailed feedback on our valuation if we contact you?

    No. This is because the move away from a triggers based method of selecting schemes for further regulatory interaction means that we are no longer in a position to provide the same level of feedback as previously unless we have interacted with you.

    Our new approach is more risk based and designed to give us the opportunity to focus our resources in a more proportionate manner and in line with our statutory objectives. Our defined benefit (DB) annual funding statements identifies the areas of scheme risk that we may be interested in.

    You can find our DB annual funding statements for 2012 and 2013 in our statements section.

  • I don't like the new approach - what can I do about it?

    We will be launching a consultation on our revised scheme funding code of practice as well as on our approach to the regulation of defined benefit schemes later in the year.

    You will have the opportunity to raise any concerns on this aspect of our approach through this consultation. You can subscribe to our news-by-email service to keep up to date with developments or visit our website nearer the time.

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