Datafile Software
PENS – Stakeholder Pensions
Select this option if the employee is contributing to a
stakeholder pension, and/or the employer is contributing on their behalf.
Scheme Number (Employee Reference)
Enter the stakeholder scheme reference number.
Employee Pay Type (B-Basic%, G-Gross%, F-Fixed Amount, I-Item%)
Select the deduction type for the employee contribution – only types enabled in the system profiles are allowed.
Employee Rate (if percent) or Fixed Amount
Enter the deduction rate or amount.
Employee Amount Net of Tax at Basic Rate
Some schemes reduce the contribution by basic rate tax – i.e. you contribute 10% of your gross pay and take 22% (the current basic rate) off the resulting value. Set if required.
Employee Amount Omitted if Less than Net Pay
If net pay prior to the deduction of the stakeholder pension contribution is less than the value of the contribution then this prompt controls whether the employee’s stakeholder contribution is suspended (if set), or if the value of the contribution is restricted to available net pay (leave blank).
Employer Pay Type (B-Basic%, G-Gross%, F-Fixed Amount, I-Item%)
Select the deduction type for the employer contribution (if any) – only types enabled in the system profiles are allowed.
Employer Rate (if percent) or Fixed Amount
Enter the deduction rate or amount.
Article ID: 1964
Created On: Tue, Mar 26, 2013 at 12:26 PM
Last Updated On: Fri, Jun 16, 2023 at 5:14 PM
Online URL: https://kb.datafile.co.uk/article/pens-â€-stakeholder-pensions-1964.html