English
EspañolPension Fund
Overview
A pension fund is a function formed by a pool of assets whose purpose is to finance pension plan benefits. These benefits are created by contributions taken from employee earnings. The contributions are a type of deduction managed with cost items. They are normally a standardized percentage that is to be taken from the employee pay and put into one type of pension fund. An organization can have different types of pension funds directed at employees with different types of positions within an organization. This screen lists and organizes the different types of pension funds that will be used when calculating deductions. Each pension fund type is recorded by an ID and provides the name of the pension fund and a description of the fund. A separate section within this function called Pension Fund Details, provides monetary details regarding the pension fund such as minimum and maximum amount of the pension.
Navigation
Payroll Management ► Support Entities ► Deduction Management ► Pension Fund
Pension Fund screen Fields and Tab
Field | Description |
ID | System generated code for the pension Fund. |
Active | If checked, the Pension Fund is available for use. |
Name | Name of the Pension Fund. |
Description | Detail description of the Pension Fund. |
Pension Fund Detail Tab | Stores the information about pension fund details such as amounts and rates. |