Check out our Trending Articles for details on new features such as Live Chat! Our Live Chat hours are Monday-Friday 10am GMT till 4pm CT.

How do you refund pension contributions ...

Comments

3 comments

  • Avatar
    Cristabelle Metcalfe

    Hi @Sital Hirani​,

     

    Good afternoon! If the opt out is actioned on the Pension file for en employee after the Payroll cut off date the employee will receive the refund in the following payrun. For future opt outs I would suggest checking the Payroll cut off date (found in the Company settings) to see if the employee opting out will get the refund that payrun, or the proceeding one.

     

    I hope that helps?

    Cris

    Fourth

    0
    Comment actions Permalink
  • Avatar
    Sital Hirani

    Hi Chris,

    The employee opted out and left his employment. We had to terminated her, but she was within her opt out period. There is no future pay runs to give her a refund. I have received the refund from the pension provider, I need to give it back to the employee.

    Thanks

    Sital

     

    0
    Comment actions Permalink
  • Avatar
    Cristabelle Metcalfe

    Hi @Sital Hirani​,

     

    You will need to add the employee as a leaver, and put them back on the payroll for a final time. The refund should then be processed on an OT W1 basis, and they will not appear on subsequent payrolls.

     

    If it was just to be paid out, it it would be taxable income, which is incorrect.

     

    Please see the link on useful information around how to process leavers.

     

    https://fc.force.com/customer/s/article/How-to-Add-a-Leaver-After-a-P45-Has-Been-Issued

     

    Thanks!

    Cris

    Fourth

    0
    Comment actions Permalink

Please sign in to leave a comment.

 
Fourth
Community
 
 
 
 
Connect With Us
 
 
  © 2021 Fourth Enterprises LLC.  
  Legal & Privacy  
 
Powered by Zendesk