- Implementing Payroll for the United Kingdom
- Set Up Elements for Qualifying Pension Schemes
Set Up Elements for Qualifying Pension Schemes
You must create an element for each qualifying pension scheme into which you plan to enrol workers.
- To create the elements, go to the Elements task.
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On the Create Element window, specify the values as shown here:
Field
Value
Legislative Data Group Relevant LDG Primary Classification
Pre-Statutory Deductions
Secondary Classification
Pension Plan Pre-Statutory or Pension Plan After Tax
Category
Benefit
- On the Elements page, answer Yes to the question, Is this a Qualifying Pension Scheme?
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After saving the element, define eligibility. This allows the Pensions
Automatic Enrolment Assessment process to create a qualifying pension scheme
component and associated element entries when it enrolls employees in the
qualifying pension scheme.
When entering the deduction percentage for either the employee or the employer contribution, you must enter the values as decimals; for example, enter 0.05 for 5 percent deduction percentage.Note: It is not necessary to define eligibility for the Employee and Employer Contribution elements, as these are indirect elements.