UK Payroll : Pension Fund Implementation

[Former Member]

Dear Techies,

I am new in UK Payroll, Can you please guide me what are all the details we need from the core user as a part of configuration of Pension Fund.

As I know we need Pension Calculation Scheme & Pension Calrulation Rule to do the same, If anything else require apart from this kindly help me out.

What is Band No & Band Level , is it we need from user to maintain in IMG or this is sap standard.

Regards

M Swadhin

Edited by: M Swadhin on Jul 11, 2010 1:15 PM

[Former Member]

Hello Swadhin,

The below link will give you the basic idea on pensions and pension schemes:

http://help.sap.com/saphelp_srm40/helpdata/fr/61/6a4caf539411d1898a0000e8322d00/content.htm

Other than this, you need to also configure the wage types that will be needed for pensions contributions.

Also check for the constants table V_T511K if the correct value is stored in the for the pensions cap etc. If you are using standard solution, it should not be a problem, but a customised solution,

you will have to configure the PCRs and schemas.

Hope this helps.

Regards.

Karan.

[jayantvenkata]

Hello

Please refer to the SPRO node of the IMG,where you need to maintain the entries for the pension scheme implementation.

Payroll>payroll great britain>Pension Schemes.

Here you need to maintain all required customising for the pension schemes.

Band numbers are used in the calculation of Percentage and Mixed-rate Pension Scheme contributions

Pension Band Level.

The band levels divide the pensionable pay into bands. The band levels can be set at the figures of your own choice.

The band levels are used in the case of Percentage Pension Schemes to calculate the percentage contribution amounts from each band.

With a Mixed-Rate Pension Scheme either a flat-rate or a percentage contribution will be calculated from each band of the employee's salary.

Regards