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OHFBNPI00 - Assign Flexible Benefits Plan Wage Types for Benefits Plans (FLEX)

OHFBNPI00 - Assign Flexible Benefits Plan Wage Types for Benefits Plans (FLEX)

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Assign Flexible Benefits Plan Wage Type for Benefits Plans (FLEX)

You use this step to control which wage types store the employee's and the employer's contribution, for the following flexible benefits plans:

  • Health Plans
  • Insurance Plans
  • Miscellaneous Plans (For example, Holiday Plans and Pension Plans)

You also use this step to maintain wage types for salary sacrifice Pension Plans.

You have previously created the desired wage types, which are available for the respective plans. For example:

  • Health Plans: wage types are available for infotype 0167.
  • Insurance Plans: wage types are available for infotype 0168.
  • Holiday Plans: wage types are available for infotype 0377.
  • Pension Plans: wage types are available for infotype 0377.
  1. Execute this IMG step, and select your required benefits area. The table view Flexible Benefits Wage type: Overviewappears, containing all existing flexible benefits plans implemented in your system.
  2. Select the benefits plan you wish to maintain and choose Details.
  3. Select the wage type that stores the following:
    1. Employee's credit/cost:This wage type stores the different in value between the standard value and flexed value. Where this difference (flexed - standard) is positive, it is stored in this wage type, and treated as an employee deduction (cost). Where the difference (flexed - standard) is negative, it is stored in this wage type and treated as an employer credits. Users can configure the system to handle employer's credits. The credits can be paid to an employee if the credits are added into the total gross wage type( /101). In addition, the credits will be considered taxable if the credits are added into the taxable pay wage type (/121).
    2. NI wage type:This wage type stores the NIC neutrality amount which the employee is paid for the difference in cost between the flexed value and standard value. This wage type will generated when payroll is run. For further information, refer to this NIC neutrality example.
    3. P11D wage type: This wage type stores the amount of the taxable benefit which is taxation deferred, and which will be reported to the Inland Revenue via the P11D form. For further information, refer to this P11D example.
  4. Repeat steps 1-3 for all benefits plans where you wish to define these wage types.
  5. Save your entries.

NOTE:

For Flexible Benefits Pension Plans with salary sacrifice options available, you must also maintain a further two wage types:

  • Back to pension wage type: This wage type stores the amount gained from a salary sacrifice option for a pension plan. If you provide a salary sacrifice pension plan in your flexible benefits system, an employee can sacrifice his or her contribution in pension from salary and add it into employer pension contributions. Such a sacrifice produces employer National Insurance (NI) contribution savings, on this NI sacrifice amount. This wage type contains the sacrifice amount to be added back into the employer pension contributions on behalf of the employee.
This wage type can also be customized to determine whether the value of this sacrifice amount is:
  • Paid to the employee as a salary adjustment

  • Retained by the employer

  • Used to fund other flexible benefits selections

You can therefore customize this wage type according to your organizational requirements.
  • Pension salary sacrifice wage type: This wage type stores the value of the pension salary sacrifice amount that is transferred from the employee's salary and paid into employer pension contributions on the employee's behalf.
For example, an employee contributes 5% of her monthly salary (GBP 100) into a pension scheme, and her employer 8%. She then chooses a salary sacrifice pension option, and converts ("sacrifices") this 5% contribution from salary into employer pension contributions, which increase to 13% as a result. This wage type stores the amount of the salary sacrifice made by the employee, in this example, GBP 100.

The following examples illustrate possible wage types used for each of the above mentioned plans:

  • Health /Insurance/Holiday Plans
  • Employee's credit/cost wage type : FDA1/FDB1/FDC1

  • NI neutrality wage type: FNA1/FNB1/FNC1,,

  • P11D wage type: FPA1/FPB1/FPC1

  • Pension Plans
  • Employee's credit/cost wage type : FDD1,,

  • NI neutrality wage type: FND1 ,,

  • P11D wage type: FPD1

  • Back to pension wage type: FPBK

  • Pension salary sacrifice wage type: FEDS






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