Description

Use this page to add, update and delete Company Pension Scheme information.

Contents

Usage

Creating a Pension Scheme

Adding Pensionable Elements

Usage

This screen allows the entry and maintenance of pension schemes within a company.

Creating a Pension Scheme

If you have just entered the Pension Scheme page, enter the pension scheme details and press save.

The fields available for entry are:

Type: The type of scheme you are setting up. Selecting a value will automatically populate some of the fields.
Description: The pension description that will be used for selecting the pension scheme. This will also determine the name of the pay element that will show on the payslip.
Reference: The pension scheme reference.
Custom Ref values: These fields are sometimes used in provider specific exports.
- Custom Ref 1:
  - For NEST, this is used to store the NEST Group name this scheme will be for.
- Custom Ref 2:
  - For NEST, this is used to store the NEST payment source name this scheme uses.
- Custom Ref 3:
  - Unused for NEST.
ECON Code: The Employer's Contracting-out Number. For use by Contracted-out Salary Related (COSR) schemes.
Net Pay Scheme: This indicator tells the system the pension is taken from Net Pay rather than Gross and therefore no tax relief is gained on the contribution.
Net of BR Tax: This indicator is only visible if the Net Pay Scheme indicator is checked. It tells the system that the pension contribution is paid less Basic Rate tax. So for example if an employee has a 10% pension deduction on earnings of £1000, then rather than £100 being taken a figure of £80 would be taken instead (if the Basic Rate of tax was 20%).
Basic Scheme: This indicates to the system that this scheme meets the basic requirements under auto enrolment. Deductions will be taken between the lower and upper earning thresholds as set out in legislation.
AVC: Additional Voluntary Contribution. This allows employees to make additional contributions into the scheme. Currently this field is for reference and reporting purposes and has no effect on the deduction of contributions.
Non Auto Enrolment. Indicates the scheme is outside of Auto Enrolment and as such will not be taking into consideration when assessing the AE status of a worker.
Qualifying Earnings: Some schemes may use the standard pay set out in the auto enrolment legislation (and selected in the Pay Element Screen ). Ticking this box disables the ability to choose individual pay elements
Set Limits: For standard pension schemes deductions will be taken on all earnings (of applicable pay elements). By checking this box, the user can enter lower and upper periodic earnings thresholds, allowing percentage deductions only to be taken between these thresholds (As is the case under a basic scheme). This field is unavailable if the Basic Scheme box is ticked as these thresholds are data driven by legislation.
Salary Sacrifice: This indicates that the pension will show on the payslip but not be included in Gross or Net pay. The user also has the option of selecting an offset element which will reduce the payment element by the equivalent amount and an Employer NI Savings Percent.
Account Name: The pension scheme provider name of the account holder.
Account Number: The pension scheme provider bank account number.
Bank Name and Branch: These are read-only and are populated when a sort code is entered.
BACS Reference: The reference for payments by BACS.
Roll Number: Building society roll number (optional).
Provider details section - This section can be used when using the API connection for Nest or People's Pension. Go to pension process for further details.
Payment Due Date - This section can be used when a Nest provider in the Provider Details section is selected.
- Pay Date - the scheme's payment due date will be set as the period's pay date.
- Days after Period End Date - the scheme's payment due date will be set to up to 22 days after the period's end date.
- A particular day - the scheme's payment due date will be set to a particular day in the current or the next month, relative to the period's end date:
  - Current Month - the selected date will be in the same month as the period's end date and the day chosen should be between the period's end date and the end of the month.
  - Next Month - the selected date will be between the 1st and the 22nd day of the month following the period's end date.

Once the data has been populated, press save to commit to the database.

Adding Pensionable Elements

Once a pension scheme has been saved you will be able to add and remove pensionable elements. Do this by selecting the relevant elements (multiple elements can be selected) and moving then with the arrows into the appropriate list.