Pension Credit Report

This report produces a report of the pension credits for a range of periods. The report lists the employer, pension eligible and pension amount and pension credits for each history record as well as the pension deduction code. Only deduction codes that are currently set as a Group 1 deduction will be included on this report.

This report includes the option to report the vacation/holiday pay and subsequent pension credit bump up based on the vacation/holiday percentage. You define a list of pay codes that represent the earnings that make up the applicable vacation/holiday earnings. You also have the option to define a list of pay codes of earnings that are vacation able but are not pensionable. The report will calculate the percentage from the total vacation/holiday in relation to the pension eligible, per employee per pay period. The percentage will then be used to bump up the pension service credits for the pay period. The report will subtract out any variable deductions eligible amount and add in the no pensionable for the applicable pension deduction, before calculating the percentage to ensure variables will not impact on this formula. The bump up of the pension service credit only appears on the report, the employee's pension credit records are not actually adjusted. This feature is also available under the BC Pension Plan Report Creation.

This report includes an option to generate an export file, ######.CSV, where ###### is the job number. The export file is generated where the logical SRB$OPSWRK is defined. All fields within the export file have any extra spaces removed from the front and back of the fields and all fields are separated by a comma.

The export file includes the following fields:

Employee Number or SIN – based on selection
Employee Name
Pay period – omitted on Summary reporting
Employer Share
Eligible Earnings
Employee Contribution
Pension Credits
Record type – omitted on Summary reporting
Deduction code – omitted on Summary reporting
Deduction Description – omitted on Summary reporting

Enter Starting Pay Period

Enter the first pay period in a range of periods to report on.

Enter Ending Pay Period

Enter the last pay period in a range of periods to report on.

Report All or Selected Employees

Enter Deduction Code to Select

Enter a pension deduction to limit the report to a specific pension deduction.

Report Details or Summary Only

Enter 'D' to report the pension credit details.
Enter 'S' to report a summary only. The summary will list the employee and totals for all deduction reported.

Bump Up Pension Credit by Vacation Percent

Enter 'N' when the pension service credits should not be bumped up.
Enter 'Y' when the pension service credits should be bumped up by the vacation/holiday pay percentage.

When 'Y'es Bump Up the Pension Service Was Selected the Next Three Prompts Apply:

Enter Vacation Pay Codes for Service Increase

Enter one or up to 25 pay codes, that represent the vacation/holiday pay earnings that are pensionable. The total earnings from these pay codes will be used to calculate the employee's percentage and the pension service credits will be bumped up by that percentage. When the employee has no vacation/holiday earnings, the pension credits will not be adjusted.

Enter Vacationable but Not Pensionable Pay Codes

Enter one or up to 25 pay codes, which represent the earnings that were included in the vacation/holiday pay earning generation but are not pensionable and therefore not included in the pension eligible. For example, overtime may be included in the vacation pay percentage calculation but is not pensionable earnings. The earnings accumulated from these pay codes will be added to the pension eligible for the determination of the vacation percentage.

Round Percentage to 2, 3, or 4 Decimals

Define the number of decimals the vacation/holiday percentage should be rounded to. For example, if you vacation percentage is 4.4% or .044 you would want to calculate to 3 decimals, while a percentage of 4% or .04 would only require calculations to 2 decimals.

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.

Report Employee Number or Employee SIN

Enter 'E' to report in employee number.
Enter 'S' to report in employee SIN in place of employee number. When report SIN is selected and sort by Employee number was selected, the report will be sorted by SIN.

The report lists the following:

The employee number or SIN and name
The pay periods
The employer, eligible and taken amounts
The pension credits
The record type which relates to the type of history that the record is (payroll generated, manual cheque, adjustment, or cheque cancellation)
Deduction code and description

When Pension Credit Bump up was selected in detail the report lists:

The employee's total vacation/holiday earnings for the pay period

The vacation/holiday percentage calculated (vacation earnings divided by (eligible less vacation earnings)) reported as a percentage, e.g., 4%

The total or bumped up pension credit for the pay period. The original pension credit is multiplied by the vacation percentage shown on the report plus 1.0. For example, if the vacation percent is .04 the original pension credit would be multiplied by 1.04 so a pension credit of 0.380 would become 0.395.