To enroll a person in an ABP pension scheme:You enroll employees in pension schemes by entering the appropriate elements. If you set up a pension plan, you enroll the employee in the plan (using Standard or Advanced Benefits), and the application creates the element entry automatically.
Use the Element Entries window (or Batch Element Entry).
To enroll a person in an ABP pension scheme:Set your effective date to the day when the person's enrollment in the scheme should begin.
In the Element Name field, select ABP Pensions.
There are no input values for this element.
Save your work.
Note: If you want to override the default salary and pension information, enter the override values in the ABP Participation and Salary Information EIT (for pension salary and salary basis values) or the ABP Pensions Override Information EIT for values specific to the pension type.
To enroll a person in other pension schemes:Set your effective date to the day when the person's enrollment in the scheme should begin.
In the Element Name field, select the element for this pension scheme. Its name will take the form <base name> Pension Deduction.
Choose the Entry Values button to open the Entry Values window.
Do one of the following:
For a fixed premium amount scheme, check the values in the Fixed Premium Amount and Percentage fields. You can override the defaults. The Fixed Premium Amount is the annual total amount paid for this employee's pension scheme. The percentage is the proportion of this amount paid by the employee. If it is less than 100% the employer pays the remaining percentage.
Attention: If you override the Fixed Premium Amount or contribution percentages for one assignment, you must make the same change for any other assignments of this employee that contribute to a scheme of the same pension type. This change throughout ensures the Fixed Premium Amount is split correctly between assignments.
For a percentage-based scheme, check the value in the Percentage field. You can override the default. This value is the percentage of the pension basis paid by the employee.
For a flat amount scheme, check the values in the Amount and Period fields. You can override the defaults. These values are the flat amount the employee pays and the period that this amount covers, such as month or year (used for prorating the amount to a pay period).
Optionally use the Prior Contribution and Year of Prior Contribution fields to carry forward any contributions the employee made to the pension scheme while working for another employer.
Enter Y or N in the Clear Arrears field. Y means the payroll run sets the arrears balance to zero. N means the arrears balance does not change.
Optionally use the Override Annual Limit field to enter the maximum employee contribution that can be deducted in a year.
Optionally enter a value in the Override Pension Days field if you want to override the pension days factor used to prorate the pension deduction amount to a particular pay period.
Save your work.
To enable employer contributions to a scheme:Set your effective date to the day when the person's enrollment in the scheme should begin.
In the Element Name field, select the employer contribution element for this pension scheme. Its name will take the form <base name> Employer Pension Contribution.
Do one of the following:
For a fixed premium amount pension scheme, save your work. The employer automatically contributes 100% minus the employee percentage of the fixed premium amount. You can skip the remaining steps.
For other schemes, choose the Entry Values button to open the Entry Values window, and proceed with the remaining steps
Do one of the following:
For a percentage-based scheme, check the value in the Percentage field. You can override the default. This value is the percentage of the pension basis paid by the employer.
For a flat amount scheme, check the values in the Amount and Period fields. You can override the defaults. These values are the flat amount the employer pays and the period that this amount covers, such as month or year (used for prorating the amount to a pay period).
Optionally enter a value in the Override Pension Days field if you want to overrides the pension days factor used to prorate the pension deduction amount to a particular pay period.
Save your work.