Considerations to Enter Calculation Values for Pensions

Create a Benefits and Pensions calculation card for each worker who pays a pension deduction. On the card, select the calculation component that was created automatically for your pension element, and enter the required contribution amounts and limits.

If you use the Load Benefit Batches process to transfer values, this process creates the calculation cards and enters the contribution amounts and limits.

Default Contribution Amounts and Limits

Enter default contribution amounts and limits when you create the pension element. These default values are stored as calculation value definitions. You can edit the default values using the Calculation Value Definitions page. You can also add a default payee or a separate payee for each employee by entering the payee ID in the Enterable Calculation Values area.

Enterable Calculation Values for Pensions

To enter or override a calculation value for one worker, perform these steps:

1. Open the worker's Benefits and Pension calculation card on the Calculation Cards page.

2. Add the calculation component for the pension, if it isn't already on the card.

3. With this calculation component selected, click the Enterable Calculation Values on Calculation Cards tab.

4. Click Create.

5. Select the value you want to enter. Typically, you will enter a payee, reference number, and any additional contributions. You can also override any default contribution amounts or limits.

The following table lists the calculation values you can enter.

Note:

If the calculation component was created by running the Load Benefit Batches process, you can only enter or override the following values: Payee, Reference Number, and Employee Additional Contribution.

Field	Required	Default Provided at Element Setup	Values
Payee	Y	N	Enter the ID of an organization with the usage of Pension Provider.
Reference Number	Y or N	N	Free text Depending on the localization rules this field may or may not be required.
Employee Contributions	Y	Y	Percent or flat amount as per element setup. Enter percentages as decimal values.
Additional Employee Contributions	N	N	Percentage or flat amount as per element setup, if additional contributions are allowed.
Minimum Age	N	Y	Numeric age
Maximum Age	N	Y	Numeric age
Maximum Contribution Amount	N	Y	Numeric amount
Minimum Pensionable Earnings	N	Y	Numeric amount
Maximum Pensionable Earnings	N	Y	Numeric amount
Partial Deduction Allowed	Y	Y	Values = Y or N

If the element was set up to allow an employer contribution, you will also see these enterable values:

Calculation Value	Required	Default Provided at Element Setup	Values
Employer Contribution	Y	Y	Percentage or flat amount as per element setup
Minimum Age Limit for Employer Contribution	N	Y	Numeric entry
Maximum Age Limit for Employer Contribution	N	Y	Numeric entry
Maximum Contribution Amount for Employer Contribution	N	Y	Numeric amount
Minimum Pensionable Earnings Limit for Employer Contribution	N	Y	Numeric amount
Maximum Pensionable Earnings Limit for Employer Contribution	N	Y	Numeric amount