In Kwik-Pay, Pension Funds are created as a combination of a Third Party Organisation record and a set of pay items linked to that organisation. The pay items generally comprise an employer contribution set up as a benefit, and an employee deduction. This form duplicates the Third Party edit form, but in addition, allows you to maintain the linked pay items easily at the same time.
The code can be any 10 alphanumeric characters. You will find that lower case characters you type will be translated automatically to upper case after you tab to the next field. The code will be the same as the PensionFund property in the pay item setup form for each of the company's Pension contribution pay items. This form will do that for you automatically.
When you create a new Pension fund, two pay items will be created automatically: one for employer contributions, and one for employee conributions . As you change the super fund code and description, the pay items code and description will be changed to match. The pay item code will be set to the pension fund code, followed by 'CO', or 'EE' for company contribution, and employee contribution, and the pay item description will be set to the pension fund description, followed by ', Employer pension', or ', Employee pension'.
When you click OK to save the pension fund details, the three pay items will be added to the pay items available to be added to each employee's pay.
Normally, only Pension pay items linked to the current Pension fund are shown in the pay items list. If you tick this checkbox, all available pay items will be displayed, regardless of whether they are Pension related.