A pension refund may be required for employees who have opted out of the company pension following re-enrolment. To refund a standard pension, follow the relevant steps below.
⚠️Important: Pension refunds can't be actioned in period one of a new tax year.
Other pension refunds
📌Note: To ensure accurate reporting, where possible, process pension refunds through the same pay element the original deduction was made.
Fixed rate pension
Click Employees, and then click Records.
Find the required employee, and click the View Record
icon.Click the Standard Pay tab, select the desired pension pay element.
Click the Edit
icon, and enter a quantity of -1.00. In the rate field, enter the value you want to refund.
Click Save.
Multiple pension
If the current pension pay element is a multiple, you will need to create a new pension pay element that is not a multiple in order to process a refund. To do this, follow the steps below.
Create a pension pay element.
Assign the new pay element to the employee.
📌Tip: Don't forget to exclude the original pension pay element to prevent further deductions.
Enter a quantity of -1.00, and enter the refund value in the rate field.
Click Save.