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Paying a company pension or annuity

1 min read

Follow this guide, if you need to process pension payroll. This follows the HMRC guidance here.

Employee #

If the employee is currently on paiyroll®, you must set up a 2nd employment with another Employee record. This is because from HMRC’s perspective, the employee has 2 employments:

  1. Original Work employment and a
  2. Pension employment.

Do not make the 1st employment a leaver.

The easiest way to do this is to:

  • Employees > Download
  • Edit the csv file and delete all the columns after the bank account which start with a $
  • Change the username
    • Each employee record must have different and unique Usernames, even though the email can be the same e.g. john_smith@gmail.com and john.smith.pension@gmail.com
  • Save the employee file as an Excel XLSX
  • Employees > Upload and follow the wizard to add the employee

If the employee is not on paiyroll®, then you only need to add one employee as per case 2. This will typically be imported from an FPS.

Setup #

You will need a pay item which is configured as a standard gross payment item which does not contribute to National insurance. You can use a Salary template for a recurring amount or a Payment pay template for a varying amount.

  • Company Setup > Pay Definitions
  • Add…
  • Set the Company
  • Set the Pay Template Salary or Payment
  • Enter a Name and Description
  • Clear the Gross pay for NIC purposes buss
  • Save by clicking Add

Pay item editor:

  • Delete all pay items including Auto-enrolment (AE)
  • Add the new Pension Payment item
  • Click Update to see the payslips

Operation #

Process payroll as usual.

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