Setting Up Pension

Define Pension Scheme GBR Page

GPGB_DEFPEN_SCHME

Define a pension scheme and the corresponding contribution details.

Qualifying Pension Scheme GBR Page

GPGB_QPNSH_DFLT

Define the Qualifying Pension Scheme for a pay entity.

Pension Event Setup GBR Page

GPGB_SET_EVNT

Maintain events and the corresponding status for a pension applicant.

Pension Scheme

Enter a pension scheme to identify it as either Qualifying Pension Scheme (QPS) or Non-Qualifying Pension Scheme (NQPS).

Description

Enter a description about the pension scheme.

Qualifying Pension Scheme

Select the check box to indicate that the pension scheme is a QPS.

Pension Type

Select one of the following pension types to define the format for contribution:

• AVC1 – This type allows you to enter the percentage and amount value.

• Fixed Scheme A – This type allows you to enter the amount value.

• Percentage Scheme B – This type allows you to enter the percentage value.

Effective Date

Enter the date from which the pension scheme is effective.

Effective Status

Select the status of the pension scheme.

Employee Percentage

Enter the percentage of employee contribution for the pension.

Employer Percentage

Enter the percentage of employer contribution for the pension.

Employee Amount

Enter the amount of employee contribution for the pension.

Employer Amount

Enter the amount of employer contribution for the pension.

Pay Entity

Indicates the pay entity to which the qualifying pension scheme will be mapped.

Staging Date

Enter the staging date defined for the employer.

Staging Date Deferment Untill

Enter an alternate staging date if the current staging date needs to be deferred.

Effective Date

Enter a base date to calculate the end date of worker/job holder deferment.

Qualifying Earning Accumulator

Enter the earning accumulator to be used by the auto enrolment batch process to validate against the qualifying earning thresholds.

Qualifying Pension Scheme

Enter the pension scheme to be mapped to the pay entity.

Worker Deferment (in periods)

This field is applicable for new employees in the organization. Enter a period value for the system to apply worker deferment (if available) for employees for whom either no event has been triggered or postponement has been triggered.

JobHolder Defermnt (in periods)

This field is applicable for the current employees in the organization. Enter a period value for the system to apply job holder deferment (if available) for employees for whom no event for postponement has been triggered.

See Auto Pension Enrollment GBR Page.

ASSESSMENT

NOT-ENROLLED -AGE NOT ELIGIBLE

Set when an Employee is rejected by the auto enrollment process on the grounds of Age validations.

ASSESSMENT

NOT-ENROLLED -EARNING NOT ELIGIBLE

Set when an Employee is rejected by the auto enrollment process on the grounds of Earning validations.

ENROLLMENT

AUTO ENROLLED

Set when an Employee is auto enrolled.

Conditions are as follows:

1. Age is 22 or older but less than State Pension Age

2. Earnings reach or exceed Automatic Enrollment Threshold.

ENROLLMENT

ENROLLED AS ELIGIBLE JOB HOLDER

Set when Employee will be enrolled on check of an Opt-In flag in Pension Payee data.

Conditions are as follows:

1. Age is 22 or older but less than State Pension Age

2. Earnings reach or exceed Automatic Enrollment Threshold.

ENROLLMENT

ENROLLED AS ENTITLED WORKER

Set when Entitled Workers will be enrolled on check of an Opt-In flag in Pension Payee data

Conditions are as follows:

1. Age is 16 or over but under 75 with earnings equal to and lesser than lower threshold for qualifying earnings.

ENROLLMENT

ENROLLED AS NON ELIGIBLE JOB HOLDER

Set when Employee will be enrolled on check of an Opt-In flag in Pension Payee data.

Conditions are as follows:

1. Age is 16 or over but under 75 with earnings above the lower threshold for qualifying earnings but less than or equal to the automatic enrollment threshold

(Or)

2. Age is 16 or over but under 22 with earnings above the automatic enrollment threshold.

(Or)

3. Age is State Pension Age or over but under 75 with earnings above the automatic enrollment threshold.

ENROLLMENT

SEIZED ENROLLED

Set when Employee will be enrolled on check of an Opt-In flag in Pension Payee data

Conditions are as follows:

1. Age is 16 or over but under 75 with earnings equal to and lesser than lower threshold for qualifying earnings.

ENROLLMENT

VOLUNTARY ENROLLED

Set when Employee will be enrolled on check of an Opt-In flag in Pension Payee data.

Conditions are as follows:

1. Age is 16 or over but under 75 with earnings above the lower threshold for qualifying earnings but less than or equal to the automatic enrollment threshold

(Or)

2. Age is 16 or over but under 22 with earnings above the automatic enrollment threshold.

(Or)

3. Age is State Pension Age or over but under 75 with earnings above the automatic enrollment threshold.

OPT-OUT

OPTED OUT FOR SEIZED MEMBERSHIP

Set when an applicant has opted from the pension scheme and the applicant was enrolled under Status\Reason as Enrolled\ Seized Enrollment

OPT-OUT

OPTED OUT WITH REFUND

Set when an Employee has opted out before the opt-out date defined from the pension scheme and the applicant was enrolled under Status\Reason as Enrolled\Auto Enrollment or Enrolled\ Voluntary Enrollment.

OPT-OUT

OPTED OUT WITHOUT REFUND

Set when an Employee has opted out after the opt-out date defined from the pension scheme and the applicant was enrolled under Status\Reason as Enrolled\Auto Enrollment or Enrolled\ Voluntary Enrollment.

OPT-OUT/CEASE

CEASED

Set when Employee is Ceased from an Active Membership. Refunds are not processed.

OPT-OUT/CEASE

OPTED-OUT

Set when Employee is opted out of an Active Membership. Refunds are processed.

POSTPONEMENT

JOBHOLDER DEFERMENT

Set when an Job Holder Deferment is applied.

POSTPONEMENT

STAGING DATE DEFERMENT

Set when an Staging Date Deferment is applied.

POSTPONEMENT

WORKER DEFERMENT

Set when an Worker Deferment is applied.

TERMINATION

TERMINATION

Set when an employee is terminated.