Entering Employee Pension Scheme Information

This chapter provides an overview of pension schemes and discusses how to enter standard and stakeholders pension scheme data.

Understanding Pension Schemes

This section discusses:

Pension scheme templates.
Delivered pension scheme deductions.
Delivered accumulator for pensionable earnings.
Viewing delivered elements.

Pension Scheme Templates

Global Payroll for the U.K provides you with a sample template that you can use as a starting point for processing two kinds of pension schemes: standard occupational pensions and stakeholders pensions. Because pension schemes are not a statutory requirement, you should tailor the provided template to your own requirements or create your own.

Pension schemes are created at the job level. That is, if an employee has multiple employment contracts, the employee can have different pension schemes for different contracts.

Within the two main pension types, the delivered template enables you to define these types of employee and employer contributions:

A fixed scheme, in which an employee and an employer pay a fixed amount per pay period.
A percentage scheme, in which both employee and employer pay a specified percentage of employee earnings per pay period.
An additional voluntary contribution scheme, in which the employee can contribute a fixed amount or percentage.

Delivered Pension Scheme Deductions

This section lists the deductions that Global Payroll for the U.K. delivers for the standard and stakeholder pension schemes.

Standard Pension Scheme

This table lists the deductions for standard pension schemes:

Deduction	Description
PEN DD EE	Deduction to process standard employee pension deduction.
PEN DD ER	Deduction to process the standard employer pension deduction.

Stakeholder Pension Scheme

This table lists the deductions for stakeholder pensions:

Deduction	Description
STK DD EEAMT	Deduction to process the stakeholder pension employee amount.
STK DD ERAMT	Deduction to process the stakeholder pension employer amount.
STK DD EEPCT	Deduction to process the stakeholder pension employee percent.
STK DD ERPCT	Deduction to process the stakeholder pension employer percent.

Delivered Accumulator for Pensionable Earnings

The accumulator GBR AC PENBL SEG is delivered for storing total pensionable earnings. Pension contributions that are based on a percentage of earnings are calculated using this accumulator. You need to ensure that the relevant earning elements contribute to this accumulator.

Viewing Delivered Elements

The PeopleSoft system delivers a query that you can run to view the names of all delivered elements designed for the United Kingdom. Instructions for running the query are provided in PeopleSoft Enterprise Global Payroll 9.0 PeopleBook.

Entering Standard and Stakeholders Pension Scheme Data

This section discusses how to:

Enter standard pension scheme data.
Enter stakeholder pension scheme data.

Pages Used to Enter Employee Pension Scheme Data

Page Name	Object Name	Navigation	Usage
Pension Details	GPGB_EE_PENSION	Global Payroll & Absence Mgmt, Payee Data, Pension Information, Assign Scheme GBR, Pension Details	Enter standard pension scheme data for an employee.
Stakeholders	GPGB_EE_STKHLD	Global Payroll & Absence Mgmt, Payee Data, Pension Information, Stakeholders Pension GBR, Stakeholders	Enter stakeholders pension scheme data for an employee.

Entering Standard Pension Scheme Data

Access the Pension Details page.

Pension Schemes

Scheme	Select the type of pension scheme that you require: FIXA (fixed scheme A) PCTB (percentage scheme B). AVC1 (additional voluntary contributions)
Employee Percentage	This field is available for entry only if you select either the PCTB or AVC1 in the Scheme field. Enter the percentage of employee earnings that the employee pays into the pension scheme.
Employer Percentage	This field is available for entry only if you select the PCTB in the Scheme field. Enter the percentage of employee earnings that the employer pays into the pension scheme.
Employee Amount	This field is available for entry only if you select either the FIXA or AVC1 in the Scheme field. Enter the fixed amount of money that an employee pays into the pension scheme each pay period.
Employer Amount	Enter the amount of money that an employer pays into the pension scheme each pay period. This field is not available if you select AVC1 in the Scheme field.
Start Date	Select the start date when the pension scheme is processed.
End Date	Select the end date when the pension scheme is processed.

Note. You can create multiple rows for the same employee as long as the scheme type is not the same. For example, you can create a pension scheme based on percentage contributions and then create a new row for an additional, voluntary contribution of a fixed amount.

Entering Stakeholders Pension Scheme Data

Access the Stakeholders page.

Pension Schemes

Scheme	Select the type of pension scheme that you require. Valid values are: AMT (fixed amount scheme) PCT (percentage scheme).
Employee Percentage	This field is available for entry only if you enter PCT in the Scheme field. Enter the percentage of employee earnings that the employee pays into the pension scheme.
Employer Percentage	This field is available for entry only if you enter PCT in the Scheme field. Enter the percentage of employee earnings that the employer pays into the pension scheme.
Employee Amount	This field is available for entry only if you enter AMT in the Scheme field. Enter the fixed amount that an employee pays into the pension scheme each pay period.
Employer Amount	This field is available for entry only if you enter AMT in the Scheme field. Enter the amount that the employer pays into the pension scheme each pay period.
Begin Date	Select the start date when the pension scheme is processed.
End Date	Select the end date when the pension scheme is processed. The End Date is a mandatory field.

Note. Create multiple rows for the same employee as long as the scheme type is not the same. For example, you can create a pension scheme based on percentage contributions and then create a new row for an additional, voluntary contribution of a fixed amount.