Date posted: 01/03/2006
Audience: Finance Managers involved in the preparation of resource accounts.
Action: Replace chapter 13 of the Employer Pension Guide with the attached pages.
Timing: You should use this guidance when you prepare the resource accounts for 2005-06.
The Remuneration Report
- Resource Accounting is the application of accruals accounting for reporting on the expenditure of central government, and a framework for analysing expenditure by departmental aims and objectives, relating these to outputs where possible. From 2005-06 onwards they must include a separate “Remuneration Report”. This report contains all the information about the pay and pension packages of Ministers and the senior management team previously contained in a note to the accounts. These requirements have been agreed by the Treasury following the guidance of the Financial Reporting Advisory Board.
- The Remuneration Report should also include information about your remuneration policy; the service contracts offered to senior staff and compensation payable on early severance. In most cases, you will only need to describe these in general terms.
- We attach at Annexes 13A and 13B the forms you can use you obtain the pension information you require.
- We attach an example of what a Remuneration Report could look like at Annex 13C. You should ensure that the text describes the policies relevant to you, although you should not make changes to the notes explaining pension benefits without the agreement of Civil Service Pensions Division.
Disclosure of other pension information
- You should continue to disclose the information about staff in a note to the resource accounts.
Reference
This document replaces EPN 122 and EPG section 13
Contacts
Enquiries about content, distribution or to receive in a different format
employerhelpdesk@cabinet-office.x.gsi.gov.uk
01256 84641
Employer Helpdesk
Civil Service Pensions
Grosvenor House
Basing View
Basingstoke
RG21 4HG
Attachments
