Enables you to specify date-effective parameters for the Fire Service Pension Scheme (FPS2015) Career Average Revalued Earnings (CARE) scheme, including a number of user-definable pay element categories and pay bands consisting of a maximum Full Time Equivalent annual earnings value and the corresponding employee contribution rate.

The FPS2015 CARE scheme is a variant of the England & Wales Scheme using CARE Method 7. This method determines the employee's actual annual earnings on which their contribution percentage is based as follows:

Pay for a number of historic periods as at a given date - the average of selected temporary pay elements over a number of historic pay periods and all pensionable fixed pay elements at a given date is annualised. The temporary pay elements to be processed must be included in the pay element category that is specified in the Temp PE Cat field; the number of historic pay periods must be specified in the Historic Periods field.

General

Effective Date

Enter the effective date of the type 10 scheme parameters that you want to maintain, or select one from the drop-down list.

If the effective date does not exist, a prompt is displayed allowing you to create the new date. If you choose to create the new effective date, New Parameters is displayed where you can copy an existing set of parameters and amend the details.

Maximum Age

Enter the maximum age permitted for membership of this scheme. A payroll exception message is produced when the employee is one month away from this age.

HMT Revaluation Order %

Enter the percentage by which the value of Assumed Pensionable Pay (APP) is increased where a period of reduced pay spans two 31st March dates.

Rate Excl PE Cat

Enter the ID of the pay element category that contains all the pension pay elements to be excluded from Banding Rates, or select one from the drop-down list.

Employer's Cont. Rate %

Enter the employer's contribution percentage for this scheme.

Added Years PE Cat

Enter the ID of the pay element category that contains all the pension pay elements that are used for Added Years Contributions, or select one from the drop-down list.

Temp PE Cat

Enter the ID of the pay element category that contains all the temporary pay elements that should be included in the calculation to determine the annual earnings, or select one from the drop-down list.

Ref Pay PE Cat

Enter the ID of the pay element category that contains all the pension pay elements that are used to include Reference Pay in the employee's earnings calculation, or select one from the drop-down list.

Historic Periods (M W)

Enter the number of historic pay periods (months and weeks) that should be used to determine the annual earnings.

Pay Bands

Band

Display only. The number of the pay band.

Annual FTE Earnings (Inclusive)

Enter the maximum actual annual earnings for this pay band.

Employee's Contribution Rate %

Enter the employee's contribution percentage for this pay band.

Buttons

Letters / Emails

Click to open the Pension Scheme Standard Letter and Email Message window.

MD25G46