LGPS UK pension scheme reassessment with an annual rate frequency, for any mid year changes
For LGPS UK pension scheme with an annual calculation rate frequency, how to reassess employee contribution rate (based on salary band) for any backdated payaward changes or mid period pay affecting changes.
Is there any seeded option to handle this mid period reassessment automatically for the LGPS scheme with Annual rate frequency where the employee rate is determined on April YYYY.
Understand that there are 'Annualized Permanent Pensionable Pay Override' & 'Assumed Pensionable Pay Override' fields in Benefits and Pension calculation card which can be used as an override and whether the above mentioned override fields need to be populated by calculating the revised pensionable pay values manually?