Pension Contribution Calculation
I'm setting up Canadian defined contribution and defined benefit pension plans in SAPs benefits module under "Savings Plans". The employee contribution for one plan should be 2.5% of earnings up to YMPE and 5% after that (where YMPE is $48,300 for 2011). For example, someone with earnings of $60,000 would be able to contribute:
2.5% of 48300 = 1207.5
5% of (60000-48300) = 585
1207.5 + 585 = $1792.5.
Is there a way to satisfy the above requirements using the Employee Contribution Rules under Savings Plans? How do I configure a 2.5% up to YMPE and 5% after YMPE?
Rémi Corriveau replied
It seems that I was a little too quick and copied the wrong line in feature PYMPE, but you tried it and confirmed that the system took into account the YMPE (even though it's not a direct value in any table).
If you have entered the Pre-YMPE and Post-YMPE rates in the configuration tables and in the employee's IT0169, it should work if feature PYMPE is set for NPRY. The contribution should switch rate once the employee has reached the YMPE (in CRT, either for WT /120 or the cumulative WT associated with your Savings Plan, as in /170, /171 ...)