How do I set up new pension schemes?

Modified on Tue, 10 Dec at 3:10 PM

Cintra iQ allows you to create all different pension scheme types to enable the correct deductions from both employees and employers contributions.

These schemes are linked to payees for payment and provision of output files. They are also linked as appropriate to the pension auto-enrolment functionality so that this process can be managed efficiently.

1. Navigate to the New Pension Scheme form

Go to: Payroll > Payroll Setup > Benefit Schemes > Pension/Other Benefits. The Pension/Other Benefits window appears.
Click New. The New Scheme form appears.
Enter the Scheme Name, and desired Scheme Type from the drop-down list. The Pension Scheme window appears.

2. Enter the Pension Scheme details

Enter the Pension Scheme details. Note: A Pension Scheme Tax Reference (PSTR) is the unique reference given to you by HMRC when your scheme has been registered for tax relief and exemptions. It has 10 characters made up of 8 numbers followed by 2 letters.
Enter the Scheme Provider Details. Note: Once you have selected the Scheme Provider from the drop down list, the rest of the fields in this section are populated. The Payments due to Scheme Provider day of the month field is populated so long as it is set against the Pension Scheme Provider details regardless of whether it is set as Cheque or Bank. For more information about the Pension Scheme Provider details, see How Do I Set up Pension Scheme Provider Details?

3. Enter the Contribution Details

In the Scheme Parts pane, right-click and select new. The New Contribution form appears.
Enter the Contribution Name.
Set the Employee Contribution details. You can set the contribution as a Salary Sacrifice Contribution, create the Deduction heading by entering the name, or selecting an existing heading.
Set the Employer Contribution details. You can create the Overhead heading by entering its name. It should be no more than 12 characters long. You can also select which existing Overhead reporting group you wish these to appear under Gross to Net report.
Click the Next button. The Pension Contribution record appears in the Scheme Parts pane and the Pension Scheme Contribution form appears. For more information, see How Do I Set Up Pension Scheme Contributions?
In the Relevant Pay tab, enter the relevant pay details. For more information, see How Do I Create Relevant (Pensionable) Pay?
In the Scheme Membership tab, choose to whom the scheme is open or closed by selecting the appropriate option.
Click the OK button.