Additional Steps to Work with Different Frequencies

You can set up frequencies on a quarterly, semiannual or annual basis.

To work with the frequencies quarterly, semiannual or annual you have to:

1. Create a new Main Pension Scheme element.
2. Create different Rate Definitions for:
   • Semiannual and Quarterly frequencies
   • Monthly or Periodically and Annual frequencies
   Note: When creating new rates, the effective date of these definitions should be earlier than the effective date of the main pension scheme element so that the values are available at time of calculating them.

   Rate Definition Semiannual and Quarterly:

   Field	Description
   Rate Definition:
   Contributor Type	Balance
   Category	Derived Rate
   Employment Level	Payroll Assignment
   Reporting Required	No
   Calculate Live Rates	Yes
   Periodicity	Set it to Null
   Periodicity Conversion Formula	Standard Rate Annualized
   Rate Contributor:
   Reference Date
   Balance Name	<BaseName>Calculated Pensionable Pay
   Balance Dimension	Assignment, No Calculation Breakdown, Tax Year to Date
   Periodicity	Set it to Null

   Note:
   • For quarterly and semiannual frequencies the conversion formula Standard Rate Annualized is used and Periodicity should be blank.
   • Field Reporting Required should be unchecked because it will not be picked up the HCM Generate Rate Process.

   Rate Definition Monthly and Annual:

   Field	Description
   Rate Definition:
   Contributor Type	Balance
   Category	Derived Rate
   Employment Level	Payroll Assignment
   Reporting Required	No
   Calculate Live Rates	Yes
   Periodicity	Set Calendar Month, if Calendar Monthly Payroll Set to Null, if Lunar Payroll
   Periodicity Conversion Formula	Standard Rate Annualized
   Rate Contributor:
   Reference Date
   Balance Name	<BaseName>Permanent Pensionable Pay
   Balance Dimension	Assignment NoCB Period to Date
   Periodicity	Set Calendar Month if Calendar Monthly Payroll Set to Null if Lunar Payroll

3. Create Calculation Value Definitions (one for Semiannual and Quarterly and one for Monthly or Periodically and Annual frequency calculation) and use the Rate Definitions created in the previous step.
4. Select 'Effective Date' as the Retrieval Date and create the Calculation Values for an effective From and To Value. Assign one of the Rate Definitions created above.
5. Add these calculation values to the Main Pension Scheme <BaseName> Calculator element.
6. On the left panel, click Calculation Factor.
7. Click the Create icon to create a new calculation factor as shown here:

   Field	Description
   Calculation Method
   Calculation Step	LGPS Calculation Rate Frequency - Semiannual or quarterly
   Calculation Value Definition	Select the Calculation Value Definition created in previous step for Semiannual and Quarterly

   Field	Description
   Calculation Method
   Calculation Step	LGPS Calculation Rate Frequency (Note: this is for Monthly or Periodically and Annual)
   Calculation Value Definition	Select the Calculation Value Definition created in previous step for Monthly or Periodically and Annual

   Note: All created calculation factors (monthly/annual and quarterly/semi-annual) have to be be assigned to the newly created Main Pension Scheme Calculator element.