Finance update

Completing the MDC Monthly Contributions Breakdown template

If you submit a monthly breakdown template and you’re updating tiered contributions information, if the check field returns a ‘no’, please ensure that you update the reason for the ratio error.

This enables us to accurately report the reason to the Department for Education in our monthly reporting.

Additional Pension/Faster Accrual/Prior Year Arrears on MDC

Any Additional Pensions and Faster Accrual contributions shouldn’t be included in tiered contributions as there are separate fields on the template for these contributions.

For arrears in contributions, the only arrears that should be included in a monthly submission are those identified in the current financial year. Any prior year arrears should be notified to us (This link opens in a new window).

Maternity Pay

We still see a number of ratio queries for employer contributions where the reason given is maternity. Employer contributions are only due on the actual maternity salary paid and not the salary the member would’ve received in their normal (non-maternity) role.

The contribution template should be completed in the relevant tier using the reduced salary, and then employer/member contributions due on that salary.

Last Updated: 05/02/2024 16:17