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

The Teachers' Pension CARE scheme is a variant of the England & Wales Scheme using CARE Method 1. This method determines the employee's actual annual earnings on which their contribution percentage is based as being the Pensionable Pay (PP) for the period.

Note: Any pensionable pay elements that should be excluded from the calculation must be included in the pay element category that is specified in the Rate Excl PE Cat 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.

Minimum Age

Enter the minimum age permitted for membership of this scheme.

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.

Employer's Cont. Rate %

Enter the employer's contribution percentage for this scheme.

Rate Excl PE Cat

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

FA PE Cat

Enter the ID of the pay element category that contains all the pension pay elements that are used to deduct Faster Accrual Contributions (FA), or select one from the drop-down list.

Buy Out PE Cat

Enter the ID of the pay element category that contains all the pension pay elements that are used to deduct Buy Out Contributions, or select one from the drop-down list.

APB PE Cat

Enter the ID of the pay element category that contains all the pension pay elements that are used to deduct Additional Pension Benefits Contributions (APB), or select one from the drop-down list.

SUPTCH

Enter the ID of the pay element category that contains all the pension pay elements that are used to deduct pension for supply teachers who are still in the old scheme to enable them to be banded on actual salary, or select one from the drop-down list.

Pay Bands

Band

Display only. The number of the pay band.

Annual 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.

MD25G44