Cancer Research UK: changes in financial policy

Research and Innovation Development Office

Category: Research news

24 March 2016

Cancer Research UK is introducing a couple of changes in the way it manages the finances of grants.

Changes to Indexation Rate

Cancer Research UK sets a standard indexation rate for all awards. They review this rate annually, using a number of different indicators of inflation to calculate an appropriate indexation rate. As of the 1 April 2016 their indexation rate will be decreasing to 2% across all awards.

How will this work?

  • This will only affect Grant Award Letters sent on or after 1 April 2016, and will be applied for the duration of the award.
  • For grants awarded prior to 1 April 2016, the indexation rate at the time of award will continue to be applied for the duration of the award (so 2.5% for the majority of awards).
  • Applications should continue to be submitted without indexation applied – this will be added by Cancer Research UK prior to any grant award.

Changes to on-costs

Cancer Research UK is aware that the employer’s pension and National Insurance contributions will be increasing as of 1 April 2016 across many of awards. Cancer Research UK will cover this increase for all awards. However, they will continue to check on-costs percentage carefully for all of awards as they will only cover standard USS and NHS pension contributions, along with standard employers NI contributions.

How will this work?

  • For existing awards, any additional funds needed to cover this increase will be paid at reconciliation.
  • For new awards, Cancer Research UK will incorporate this increase into their on-cost calculations and will still continue to check all on-cost rates to ensure these are being calculated at the correct rate.

If you have any questions on the above please contact grants.helpline@cancer.org.uk and the Cancer Research UK team will be able to help you.

Disclaimer

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