Resource accounts exercise
This page is for staff involved in the preparation of Remuneration Reports required for the Annual Resource Accounts exercise. This page will be of particular interest to Finance directors and managers and Pension leads.
This page is for staff involved in the preparation of Remuneration Reports required for the Annual Resource Accounts exercise. This page will be of particular interest to Finance directors and managers and Pension leads.
Ensure your January interface is accurate and sent to the Scheme Administrator (MyCSP) without delay.
Identify your Senior Management team members and complete Annex 13A. Send Annex 13A to the Scheme Administrator (MyCSP) at resourceaccounts2023@mycsp.co.uk.
Note the guidance for the disclosure of salary, pension and compensation information in Section 13 of the Employer Pension Guide (EPG). There will be an EPN each year to initiate the process, highlight any changes and provide links to the relevant annexes.
If you need to obtain pension information on Ministers covered by the Remuneration Report, you will need to complete Annex 13B of the EPG and send it to Buck (the administrator of the Parliamentary Contributory Pension Fund). Please see the process map for PCPF disclosure of pension information for more details.
Send the notice contained in Annex 13D of the EPG to all staff covered by the Remuneration Report.
Provide the Scheme Administrator with evidence from your auditor, if your audit date has changed.
You should ask the Scheme Administrator for the details of the number and total additional accrued pension liabilities, payable by the PCSPS/alpha, for individuals who retired early on health grounds during the year, and disclose in the notes to the departmental resource accounts.
The dedicated email address is resourceaccounts2023@mycsp.co.uk
We have streamlined the Request Form and added validation checks to ensure that the information is being recorded correctly. The information being requested has not changed.
Provide MyCSP with details of the missing data within the notes section of the Annex 13A.
Disclosure only applies to your senior management team, which will normally be your Management Board or a similar group of very senior officials.
If you are unsure who this is in your organisation, please seek guidance from the auditor.
It is your responsibility to decide which posts should be covered by the disclosure requirements.
Board members who have not been an active member of the Civil Service pension scheme at any time during the disclosure period do not need to be included. This includes members with a deferred pension, retired members, and members of the partnership scheme.
Due to the complexities of the 2015 Remedy, the exercise could not commence until an agreed approach to processing the calculations was confirmed by the Cabinet Office, HM Treasury and NAO.
MyCSP needs to focus on producing the complex calculations, and this has been agreed by the Cabinet Office. Queries of this nature will not be addressed given the release of EPN 710.
There is no fast-track service. Those employers not covered under Tranche 1 will be issued on 31 August 2024.
Given the complexities involved in the calculations due to the impact of the 2015 Remedy calculations have been processed in receipt date order.
In accordance with EPN710, the following agreed wording should be disclosed for those employers who do not want to delay publication of their accounts until all of the information is available:
“Accrued pension benefits for directors are not included in this table for 2023/24 due to an exceptional delay in the calculation of these figures following the application of the public service pensions remedy1.”
Please review the FAQ’s and supporting example calculations on the website.
Calculation queries will only be addressed from September, once all employer results have been issued. The priority must be the production of the calculations.
As advised above, in accordance with EPN710, the following agreed wording should be disclosed for those employers who do not want to delay publication of their accounts until all of the information is available:
“Accrued pension benefits for directors are not included in this table for 2023/24 due to an exceptional delay in the calculation of these figures following the application of the public service pensions remedy1.”
The calculation results are based on the information provided via your payroll interface.
The calculation tool that the Scheme Administrator uses is signed off by their Scheme Compliance Unit and the Cabinet Office. The National Audit Office (NAO) on behalf of the Scheme, commission an external actuary to verify the results.
Given their complexity, a breakdown is not able to be provided at this time.
The calculations used for ABS and Resource Accounts are different and therefore not comparable.
The calculations used for PSS and Resource Accounts are different and therefore not comparable.
Resource Accounts calculations are based on gross pension benefits and reflect the liability to the Scheme.
Therefore, Pension Sharing Orders are not deducted from the calculations.
Resource Accounts calculations are based on gross pension benefits and reflect the liability to the Scheme.
Therefore, Scheme Pays arrangements are not deducted from the calculations.
Each calculation is based upon each member’s benefit entitlement. It is not possible to directly compare benefits due to the number of factors involved in their calculation, which vary from member to member.
Due to the Remedy exercise, members' records have been ‘rolled back’ to place members in the scheme which they were previously in. Therefore, as the data has changed, the opening balances will be based on the rolled-back position and therefore will not match last year’s closing balances.
This is not a requirement of the disclosure exercise. Only calculations for the prescribed period will be provided.
Real Increase in Pension (RIP) figure.
The calculations for disclosure compare the opening balance plus pension increases against the closing balance, this is to produce the RIP figure.
In some cases, the real increase in value and the pension benefits accrued for the single total figure of remuneration can be negative. In other words, there can be a real decrease. This is likely to happen during periods of pay restraint and/or where inflation is higher than pay increases.
The final salary pension of a member in employment is calculated by reference to their pay and length of service. As of 1 April 2022, all members are now in alpha, so there will be no increase in service. Their final salary pension will increase from one year to the next by virtue of any pay rises during the year. Where the inflationary increase is higher than any pay rises received, or there is no pay rise, this means that in real terms, the pension value can reduce, hence the negative values.
Another scenario where there can be negative results is where a member is over their Normal Pension Age (NPA). The factors used to calculate the value are such that the value of pension that could have been taken at NPA decreases as the member gets older.
When the Scheme Administrator supplies you with the requested pension information, they will explain the reasons for any real decrease in value or pension element of the single figure of remuneration. They will also provide you with the combined information you need for your reports with the relevant rounding applied.
This is out of scope of the Remuneration project. The process has been changed to meet the challenging deadline. Such requests will be considered after the completion of the exercise, via the statement of work process.
No. The process remains the same.
Requests for PCSPS/alpha Ill Health retirement details should be made via email to: resourceaccounts2024@mycsp.co.uk.
No. The Scheme Administrator (MyCSP) will not require a list of members; they just require the email request.
As CSCS payments are paid by the employer, you can obtain information from your payroll provider or your HR systems.
Yes. Requests can be made to the Scheme Administrator via the Statement of Work process. Please consult your Employer Relationship Manager.