Difference between revisions of "How do I change a pension scheme?"
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Katy Kitchen (talk | contribs) (Created page with "{{Review}} == Summary == This article explains how to amend a pension scheme e.g. to increase contributions or amend the name of a scheme. == More Information == If you inte...") |
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== Summary == | == Summary == | ||
This article explains how to amend a pension scheme e.g. to increase contributions or amend the name of a scheme. | This article explains how to amend a pension scheme e.g. to increase contributions or amend the name of a scheme. | ||
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Over the next couple of years HMRC intend to increase the percentage contributions to be applied to Auto Enrolment schemes. [http://www.thepensionsregulator.gov.uk/doc-library/increases-in-minimum-contributions-automatic-enrolment.aspx The Pensions Regulator] article provides a useful guide to the proposed dates and percentages to be applied. | Over the next couple of years HMRC intend to increase the percentage contributions to be applied to Auto Enrolment schemes. [http://www.thepensionsregulator.gov.uk/doc-library/increases-in-minimum-contributions-automatic-enrolment.aspx The Pensions Regulator] article provides a useful guide to the proposed dates and percentages to be applied. | ||
| − | As and when further information becomes available the guidance here will be updated. | + | As and when further information becomes available the guidance here will be updated. |
== Any Other Schemes == | == Any Other Schemes == | ||
* Go to {{PayrollSettings|Company Parameters|Pension Schemes}}. | * Go to {{PayrollSettings|Company Parameters|Pension Schemes}}. | ||
| − | * Find the scheme to amend. | + | * Find the scheme to amend. |
* Alter the {{DataPrompt|Description}} and/or {{DataPrompt|%/Value}} as necessary. | * Alter the {{DataPrompt|Description}} and/or {{DataPrompt|%/Value}} as necessary. | ||
{{Warning|text=It is not advisable to amend the parameters on an active scheme i.e. the {{DataPrompt|TAX}}, {{DataPrompt|%}} or {{DataPrompt|Lim}} columns. These will alter the way contributions are calculated.}} | {{Warning|text=It is not advisable to amend the parameters on an active scheme i.e. the {{DataPrompt|TAX}}, {{DataPrompt|%}} or {{DataPrompt|Lim}} columns. These will alter the way contributions are calculated.}} | ||
| − | * Press {{KeyPress| | + | * Press {{KeyPress|ESC}} or click {{Button|Exit}}. The changes are applied immediately to all employees in the scheme in the current Payroll Period. |
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| − | * [[How do I | + | == See also == |
| − | * [[How do I | + | * [[How do I set up a pension scheme in Platinum Payroll?]] |
| − | * [[Links to | + | * [[How do I prepare for automatic enrolment?]] |
| + | * [[Links to pension providers]] | ||
| − | {{KB_Tags| | + | {{KB_Tags|pension, scheme, payroll, parameters, auto enrolment, auto enrol, increase conts, increase contributions, amend scheme, amend pension, increase}} |
| − | {{KB_PR}} {{ZN_Admin}} | + | {{How}}{{KB_PR}}{{ZN_Admin}} |
Latest revision as of 06:29, 9 November 2019
Summary
This article explains how to amend a pension scheme e.g. to increase contributions or amend the name of a scheme.
More Information
If you intend to amend a pension scheme please check from when the change should be effective. Wait until you are in that payroll period before making any changes.
Auto Enrolment Schemes
Over the next couple of years HMRC intend to increase the percentage contributions to be applied to Auto Enrolment schemes. The Pensions Regulator article provides a useful guide to the proposed dates and percentages to be applied.
As and when further information becomes available the guidance here will be updated.
Any Other Schemes
- Go to " Payroll Maintenance Options Payroll Settings Company Parameters Pension Schemes".
- Find the scheme to amend.
- Alter the "Description" and/or "%/Value" as necessary.
 | It is not advisable to amend the parameters on an active scheme i.e. the "TAX", "%" or "Lim" columns. These will alter the way contributions are calculated. |
- Press <Esc> or click [Exit]. The changes are applied immediately to all employees in the scheme in the current Payroll Period.
See also
- How do I set up a pension scheme in Platinum Payroll?
- How do I prepare for automatic enrolment?
- Links to pension providers
