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OHBEN7113 - Define Corporate Pension Plans

OHBEN7113 - Define Corporate Pension Plans

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In this step, you create definition for each specific corporate pension plan. The system uses the definitions here as the sub-types for the following infotypes:

  • Pre-paid & DC Plan Management JP (0888)
  • DB & EPF Plan Data Management JP (0889)
  • During a specified period, you can only activate one personal-type DC pension plan.
  • If you specify a calculation process, the system uses this calculation process as the default process for calculating seniority when checking corporate pension plan participant eligibility and calculation contribution amount
  • Create the definitions of corporate pension plans according to the pension rule.
  • You can only set the following combination of statuses for the specific corporate pension plan:
Plan Type Active New Participant ER Contribution EE Contribution
C-type DC X X X X
X X X
X   X X
X   X
X  
 
P-type DC X X   X
X   X
X  
     
DB & EPF X X X X
X X X
X   X X
X   X
X  

,,,,,,,,

Note:

  • C-type DC represents corporate-type defined contribution pension plan
  • P-type DC represents personal-type defined contribution pension plan
  • DB represents defined benefit pension plan
  • EPF represents employees' pension fund plan,,






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