Configure Pension and RRSP Plans for Canadian Employees

Before You Begin: Make sure that you are familiar with the contents of the Pension and RRSP Plans tab in Payroll Setup > Deferred Compensation and Pension Plans. See The Pension and RRSP Plans Tab.

To configure a pension plan:

1. Go to Payroll Setup > Deferred Compensation and Pension Plans.
2. Click the Pension and RRSP Plans tab.
3. Click Add.
4. Enter a name and description of the plan.
5. In the Tax Method drop-down list, drop-down list, select the plan type.
6. (Optional) In the Reference Code field, enter a cross-reference (XREF) code.
7. In the Plan Limit section, make the required selections: 
   1. In the Limit Option drop-down list, select the limit option.
   2. In the Lookup Type drop-down list, select Deduction or Deduction Grouping.
   3. In the Deduction or Deduction Grouping drop-down list, select a deduction or deduction grouping.
8. Click Save.

Once you have finished configuring a pension plan, you must configure which employees contribute to the plan through a payroll election. See Assign Deferred Compensation and Pension Plans to Employees.