Pension Groups
Pension Groups are a set of employees who make use of the same Pension Scheme.
To create a new group:
- Go to the Pensions page
- Click on the Groups tab
- Click Add New Group
- Insert the group start date and end date, if applicable
- Write the Group Name
- Select the Scheme Used (from the created or integrated pension Schemes)
- Input the Employee and Employer contribution rates
- If applicable, enable the Salary Sacrifice option
- Click Create to save it
Salary Sacrifice
When enabling Salary Sacrifice, you will be able to customise the pension group further:
- Enabling % of employee or employer NIC savings to be added to pension
- If you are going to have a Sacrifice Scheme in which you are going to save on the Income Tax relief and you want the scheme to reflect this you can enable the Sacrifice Tax Savings tab which will add on the 20% tax relief.