EPN128 - Accruing Superannuation Liability Charges (ASLCs), New salary bands and new rates of charge to be paid by

Date posted: 01/06/2005

Audience:

This important notice will be of particular interest to:

• Finance Directors
• HR Managers with specific responsibility for telling payroll providers about changes to the salary bands and increased rates of charge for ASLCs.

Action: 

• You must notify your payroll provider now of the new ASLC salary bands and the increased rates of charge which take effect from 1 April 2006. (EPN94 notified you of these increases)

Timing: Immediate

ASLCs

1. ASLCs are the contributions paid by employers to Cabinet Office Civil Superannuation every month to provide pension cover for their staff who are members of the Civil Service pension arrangements.
2. The table overleaf shows the annual full-time salary band used to determine the appropriate charge for each scheme member, expressed as a percentage of pensionable pay. The revised salary bands and new ASLC rates take effect from 1 April 2006. It is important that the full and correct ASLC, together with the member’s contribution, is paid by the 19th calendar day of the month following the payroll date for every scheme member.

Note 1 The salary bands for 2006-07 have been revalorised on the advice of the Scheme Actuary, Hewitt Bacon & Woodrow.
Note 2 The mini-ASLC for the provision of risk benefits to those opting for partnership pension account arrangements remains at 0.8%.

3. CSPD recognises the need to keep Finance Directors better informed about ASLC's in the run up to the next quadrennial review in 2007 and is preparing informationto send to all Financial Directors annually.

Contacts

Enquiries about content, distribution or to receive in a different format

employerhelpdesk@cabinet-office.x.gsi.gov.uk
01256 846414
Employer Helpdesk, Civil Service Pensions, Grosvenor House, Basing View
Basingstoke, RG21 4HG