Pension Credit Recalculation

The Pension Credit Recalculation process recalculates the pension credits for a range of pay periods. This option can be used in situations when payroll periods have been completed with the incorrect values in the employee code or the wrong number of periods for the year. Both affect the pension credit calculation. The pension credit calculation is the same calculation used during the payroll stream. Only history records of type 'P' and those that include the pension deduction for that period will be considered. The employee's cycle code and employee type used in the calculation are taken from the employee's master or first function line. A report only feature has been included which allows a report to be generated without changing the history records.

Enter Pension Deduction Code

Enter a 2-digit pension deduction code. The deduction must exist in the database and be a Group 1 deduction.

Enter Start Period

Enter the starting period for the range of periods.

Enter End Period

Enter 'Y' to only produce a report. No change is made to the files.
Enter 'N' to change the history file with the new pension credit.

Omit Reporting Unchanged (ZERO) ENTRIES

Enter 'N' to include the reporting of entries with a zero difference.
Enter 'Y' to omit reporting the entries with a zero difference. These are the entries that do not require a correction.

Report Only or Process Employees

Enter 'R' to only produce a report. This will not affect the employee's pension credits.
Enter 'P' to do the pension credit recalculation update and generate the report.

Report All or Selected Employees

Report Terminated/ON LEAVE/ON LEAVE & Benefits

Sort by Employee Number or Employee Name

Enter 'E' to produce the report in employee number order.
Enter 'N' to produce the report in employee name order.

The report lists the following:

Employee number and name
Pay period, pensionable units
Original pension credit
New calculated pension credit
Difference between the original and recalculated pension credits