In this article
Ensure you know the pension Type before proceeding. If you are unsure, you can contact your pension provider who will be able to assist.
Please also ensure you know if the pension is based on Qualifying earnings. This means that the pension is calculated on pay above the Lower earnings limit, but below the upper earnings limit. If you are unsure, you can contact your pension provider who will be able to assist.
Pension Type Overview
- Net Pay Arrangement
This pension type will reduce the employee's taxable pay.
- Salary Sacrifice
This pension type will reduce the employee's taxable and NI'able pay, and is essentially an "Employer only" scheme. You will need to specify if you are also contributing the "NI savings".
- Relief at Source
This pension type is deducted after tax and NI have been calculated, and is therefore a Net deduction.
Setup a pension scheme in Pento
To add a pension scheme to Pento, you need to navigate to the Company section and then click on the Pension page. Here you can press the Add Pension button.
Then you can click on your pension scheme to enter your scheme details.
You can watch a video demonstrating how to set up the pension at Company Level here.