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- Opted out Date - Within a limited time period after enrolment the employee can opt out of the scheme and have their contributions refunded. The date should be entered here. This will automatically end any current pension scheme for the employee and refund any deductions taken within the past month.*
- Terminate Date - Even after the opt-out period the employee can resign from the scheme at any time. This field will be used in future in order to determine when the worker requires re-assessment and re-enrolment into a scheme
- Notice Date - Any worker (aged 16 or more and less than 75) under the new legislation can ask their employer to be made an active member of a pension scheme (even during a postponement period). The date a joining notice is received is entered here.
Figure 4.1
Also added to included in this screen are the changes belowis the capability to override the legislative default rates.
- Override Contributions – This field is only enabled or relevant where the employee has been entered onto a ‘Basic Scheme’ as described in section 1. As stated the deductions for this scheme will be between the Lower and Upper earnings thresholds and at the rates set out in legislation. However it is foreseen that there will be times where although deductions are to be made between these thresholds, they may be made at a higher rate.
In the normal scenario where an employee is entered onto a Basic Scheme and no overrides are entered the user will not be able to add any contributions to the record as these will be calculated automatically based on the legislation,
Figure 4.2
*A worker has 1 month to opt out of auto enrolment from the time they receive their joining notification. Because the exact period of time is therefore ambiguous InPay will automatically refund contributions to an AE scheme within 3 months of the Opted Out Date. The refunds are created by the system as statutory overrides and can be edited/deleted through the Pay -> Statutory Override screen
It should be noted that if the worker wishes to leave the scheme beyond 1 month of notification, a Terminate date should be entered against the worker, not an opt-out date, and no refunds given