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Set up your pension

Created on  | Last modified on 

Summary

Set up company pension deductions in Sage 50 Payroll Ireland.

Resolution

Before you start

Make sure you’ve already set up a pension link. You’ll need this to connect each deduction to the right pension scheme.

Create the pension deduction

  1. Go to Company/Payroll, then select Deductions.
  2. Select New, then complete the following details:
    Title Enter a name, such as Pensions or PRSA.
    Type Select Gross.
    Sub-Type Select Pension / RAC / PRSA, or Pension / RAC / PRSA / CWPS if available.
    Pension Choose the correct pension link.
    AVC Select this if the deduction is an additional voluntary contribution. 
    Multiply by the number of holiday periods

    Select this if you want the deduction to increase when processing multiple pay periods together. Available only in weekly and fortnightly payrolls.
    Balance Type  Select Accumulate a balance.
     NOTE: Use DEM1 when you don’t submit pension data to a provider. You don’t need to create a new pension link for internal-only deductions. 
  3. Select Save, then Close.
  4. Repeat for each pension deduction you need to set up.

Assign pension contribution details to employees

When you've set up your pension contributions, assign pension contribution details to an employee. This ensures Sage 50 Payroll Ireland calculates and reports pensions correctly.

 NOTE: To record both standard pension amounts and AVCs, set up two separate gross deductions. One for the main pension and one for the AVC.

Bespoke auto-enrolment pension training

We fully support the upcoming auto-enrolment changes in our Payroll solutions, including employee enrolment, contributions, and compliance. To help you prepare, we offer bespoke training covering:

  • Understanding the legislation and getting prepared
  • Guide through implementation with hands-on, product-specific sessions

Want training tailored to your needs? Leave your details and we’ll get in touch.