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OHFBNPE03 - Assign Pension Plan Options Attributes (FLEX)

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Assign Pension Plan Options Attributes (FLEX)

In this step, you assign a salary sacrifice attribute to a previously created pension plan option. This is an optional customizing step, and is applicable only to flexible benefits pension plans. Assigning this attribute to a specific pension plan option means that this option will operate under the salary sacrifice principle.

If you have assigned salary sacrifice to a particular pension plan option, you can also determine whether any Employer National Insurance Contributions (NICs) savings produced as a result of the salary sacrifice are paid back to the employee. This process is referred to as pension payback.You set the Pay back to Pension indicator to ensure that this paybackamount is fed back into increased employer pension contributions on behalf of the employee.

Note 1:

In Flexible Benefits for Great Britain(FlexBens), as noted above, setting the Pay back to Pension indicator results in the pension payback amount being added back into employer pension contributions. However, there are a number of other possibilities for this paybackamount. It could also be:

• Retained by your organisation

• Paid back to the employee as a salary enhancement

• Used to fund other flexible benefits selections

Wage type customizing will be required if you wish to administer any of the above three pension payback administration options, rather than return any payback amounts to employer pension contributions.

Note 2:

For each pension plan option which has been assigned as a salary sacrifice option, you must also set the "read from infotype" indicator in the IMG step Define Employee Pension Contribution Rule (FLEX). This ensures that the SAP system reads the pension contribution amount or percentage from the existing infotype Pension Funds GB (0071) record.

• The required Great Britain pension scheme must have been previously created via customizing steps in the Payroll Great Britain IMG, under: Payroll: Great Britain -> Pension Schemes.

• You have already created your flexible benefit pension plan, in the Benefits AdministrationIMG, in the steps under: Benefits Administration -> Plans -> Pension Plans (FLEX).

• You must also have created appropriate pension plan options, for your selected pension plan, in the Benefits Administration IMG, under: Benefits Administration-> Plans-> Pension Plans (FLEX) → Assign Miscellaneous Plan Attributes.

Execute the activity and proceed as follows:

1. Select your required benefits area and pension plan, when prompted.
2. Confirm your entries.
3. From the displayed list of pension plan options, select an option to which you wish to apply the salary sacrifice principle.
4. Choose the Detailsoption.
5. In the Option Salary Sacrifice of Flexible Benefits Plangroup box, set the Salary Sacrifice indicator to apply salary sacrifice to your selected plan option.
6. In the Option Salary Sacrifice of Flexible Benefits Plangroup box, set the Pay back to Pension indicator if you want any Employer NICs savings produced by salary sacrifice to be paid back into the employee's pension fund.

Note: This indicator is only valid if you have also set the Salary Sacrifice indicator.

1. Repeat steps 2 -> 4, for each pension plan option to which you wish to apply salary sacrifice.
2. Save your entries.

For your selected pension scheme option, you have set both the Salary Sacrifice and Payback to Pensionindicators. This means that this pension scheme option has the salary sacrifice option applied and any Employer NICs savings produced by salary sacrifice will be paid back into the employee's pension fund.

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Length: 5205 Date: 20240523 Time: 165508     sap01-206 ( 90 ms )