Pension

Direct Entry

Use HR Record Payroll Details Pensions and enter the percentage to be deducted, for the employee.

 

Based On Salary

A process exists whereby the employee’s Pension Percentage can be calculated by a one-off update, where salaries are increased or, on a calculation by calculation basis, based on the employee’s full time salary.

Documentation already exists to define the many parameter settings that can be used to tailor this process to the user’s requirements. This process is in use at many colleges to varying degrees of complexity.

 

Based On Payroll Codes

It was discussed (Note: at meeting at South Worcester College – Feb 8th), that a mechanism would be needed to work out an employee’s Full Time salary, based on the hourly pay rate.

This solution depends in the payroll code only having a single hourly pay rate assigned, or at least all of the pay rates associated with it falling into the same pension band.

a) It will be necessary to create one pension scheme for each of the different pension percentages that are to be deducted.

b) The current facility to say that a particular payroll code is only to be pensioned against one scheme would be invoked. This is actioned by accessing Payroll Code maintenance screen and in the Pensions tab, ticking the only pension that this payroll code will be paid against.

c) It will be necessary to ensure that each employee on a given pay rate, is also on the pension that equates to that pay rate. It is possible to achieve this via manual entry. A wizard is provided (QLP 3.2 SP4) to ensure that for each employee on such a pay rate that pension record, exists. This wizard would need to be run just before the final calculation is done each period.

d) The TPA Pension Report has been amended (QLP 3.2 SP4) to ensure that multiple pension schemes can be included within the same report.

 

 

Additional Comment To The Procedure Based On Payroll Codes

  • This mechanism is available prior to the installation of QLP 3.2 SP4, except that point c), would need to be a manual exercise to ensure that the employees were on the required pension scheme rate.