Required UK Pension Plan and Option Settings

Add Plan dialog box

The country in which the plan is offered. Select United Kingdom.

The type of benefit plan. Select Retirement.

Retirement plans can have several different sub-types. These sub-types are determined by the plan type and the country in which the plan is offered. Select the appropriate pension scheme from the list.

General tab (plan setup)

The display name of the plan. Enter the plan name in the field.

The ID used in import files to properly import employee benefits. Cross-reference codes are used to import and export data to and from Dayforce and other applications. Enter a unique value.

See Cross-Reference Codes.

The first date that the plan is available to employees. Enter or select a date.

Determines whether the plan year date is the same, year over year, or is specific to one calendar year. Select one of the following options:

• Fixed: The date includes a month, day, and year.
• Relative: The date only includes a month and a day.

The first day of the plan year. All plans associated with a carrier must have the same plan year start date. Enter or select a date.

The last day of the plan year. All plans associated with a carrier must have the same plan year end date. Enter or select a date.

General tab (option setup)

The display name of the option. Enter the option name in the field.

The ID used in import files to properly import employee benefits. Cross-reference codes are used to import and export data to and from Dayforce and other applications. Enter a unique value.

See Cross-Reference Codes.

Contribution tab (option setup)

Determines if the option is auto-enrolled or not. Select Auto-Enrol.

When you select Auto-Enrol, several other settings are automatically populated and cannot be updated unless you change this selection to Other.

Note: Only one option in the pension plan can be marked for auto-enrolment.

Determines how the retirement contribution is configured. This is automatically set as Both Employee Deferral and Employer Contribution.

Determines how the employee deferral (or contribution) is defined. This is automatically set as Percentage.

Determines how the percentage is specified. This is automatically set as Predefined, allows Employee Changes on Enrolment.

The percentage automatically elected for employees upon enrolment in the pension scheme. Enter a number in the field.

Defines the minimum and maximum percentages an employee can contribute to the pension scheme. The value entered in the Maximum % Election field doesn't preclude the employee from contributing more to the pension scheme, however, the field is required for the option setup. See Add UK Pension Payroll Elections.

Enter a number in each field.

To confirm contribution rates, go to:

https://www.thepensionsregulator.gov.uk/en/employers/managing-a-scheme/contributions-and-funding

Determines how the employer contribution is defined. This is automatically set as Percentage.