This communication is to inform you of the changes we are making on the collection of employer contributions for the Hubwise and Hartley SIPP. This change will streamline the raising of paper forms and facilitate direct payment to Hubwise for both employer and investor contributions.
Detail of the Changes
New Business
With effect from 01/01/2022 all new employer contributions for the Hubwise Hartley SIPP (and branded version) will be taken directly by Hubwise. This will be reflected within a change to the application form. For the employer contribution the current employer DD mandate form will be used for the capture of the employer signature, however the form will be uploaded in the Adviser portal - and not sent to Hartley.
Hartley will continue to conduct AML checks based upon the details captured in the new business submission. The DD mandate will be arranged through Hubwise.
Hubwise will report all payment received / contributions by way of a daily movements report to Hartley. Currently this operates for investor contributions - this will be extended to employer contributions.
Existing Business
For existing investors, Hartley will take the last employer contribution on 01/12/2021. Hubwise will start to collect employer contributions with effect from 01/01/2022.
Adhoc Employer Contributions
These are to be made payable to Hubwise.
What action do you need to take?
New Business
The only change in this process is the submission of the direct debit mandate which will be to Hubwise through a document upload. From the beginning of December, the new application will be available that will support this change. The first date for payment will be 01/01/2022.
Any queries concerning payment should be directed to Hubwise.
Existing Business
As Hartley will be collecting the last employer payment on the 01/12/2021, please advise those of your investors and employers this affects to cancel their Direct Debit payable to Hartley shortly after that date. Hartley will cancel the current employer direct debits.
A new employer contribution Direct Debit will need to be completed in time for Hubwise to collect the January 2022 contribution. To ensure this is processed in time for the 01/01/2022 collection, Hubwise will require receipt of the new DD by 15/12/2021.
You can access a new Direct Debit by clicking on the ‘Add/Amend Contributions’ within an investor account. This changed process will be available for use from the beginning of December 2021.
Hubwise will monitor the transition and confirm with each partner the outstanding employer direct debits.
For Further information
Should you require any further information or have any queries please do not hesitate to contact our Client Services Team, via Freshdesk in the usual manner.
Kind regards
Douglas Boyce
Managing Director
