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Introducing Pension Contributions

Genevieve Fontanilla
18 Jul 2019 3min read

As a result of the April 2018 pension legislation changes in the UK, our team have released a new feature to Kobas: Pension Contributions. With this new feature, operators are able to enrol employees, between the ages of 22 and 65, in a pension scheme. The pension scheme is based on each employee’s gross annual salary. So, if the employee chooses to opt in, companies have to pay a minimum of 3% towards it.

How It Works

To get started, employers must ask employees if they would like to be part of the pension scheme. Once the employee has agreed to participate in the scheme, employers need to contribute the minimum percentage amount (3% – though if they wish to contribute more, they can) to both salaried and hourly employees, or a fixed amount that is equal to or greater than 3% to those who are salaried.

If, however, the employee opts-out, employers don’t need to do anything nor contribute anything.

To help you keep track of which of your employees need pension contributions, we have added a new widget for your home page. You can activate the widget through Home Page > Edit Landing Page Layout. There you will find Required Staff Pension Updates (All Venues) or Required Staff Pension Updates (Home Venue).*

*Note: these are specific to a user’s permission level, meaning that you will have to have permission to view home venue pay details or all venues’ pay details in order to see this information.

Setting it Up

If the pension widget is shown on your homepage, click on the button next to the employee’s name that says View Staff Profile. Scroll down to Pay Details from there and click Edit to find the Pension Contribution Type section. Using the dropdown, select either Percentage % or Fixed Amount.

The legal minimum percentage of 3% is set as the default for Percentage %, but this can be edited to a higher number. If it’s a Fixed Amount, enter the contribution value and, using the dropdown, select the frequency in which the contribution will occur (Weekly or Monthly).

You don’t have to have the widget set up on the Home Page, however, to access and edit this information. Simply visit Staff > Current Staff to edit the payment details for each individual staff member.

Rota and Reporting

Once the pension information has been set up for your members of staff, you will then find a breakdown of their pension contributions for each day across the week (with a total for the week) on both the View Rota and Hours Worked pages whenever they are added to a rota.

As with the other Labour Spends, an estimated amount will be shown under Predicted Labour Spend by Category. The Actual Labour Spend will display once closing tasks have been completed.

In addition, to ensure greater labour cost accuracy, a breakdown of the contributions will show up in your Labour Costs, Labour Per Person, Operational Profitability and (newly generated) Hours Export reports.

That’s all for now. If you have any questions about Pension Contributions, please get in touch with our support team. Follow us on Twitter for more daily updates.

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