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New CWPS rates effective from 28 September 2020

Created on  | Last modified on  Highlight Matches

Summary

This article covers the new Construction Worker Pension Scheme (CWPS) rates that come into effect from 28 September 2020.

Description

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The standard contributions you and your staff pay into your CWPS increase on 28 September 2020. Contributions after this are subject to the new minimum rates.

Resolution

The new rates

Category: SPB - Pension/Sick Pay

  Type Member contribution Employer contribution Total
Pension benefits Gross €18.73 €28.09 €46.82
Death-in-service benefits Gross €1.17 €1.17 €2.34
Sick pay Nett €0.67 €1.34 €2.01
Total   €20.57 €30.60 €51.17

Category: SPI - Standard Contrib + Industry Additions

  Type Member contribution Employer contribution Total
Pension benefits Gross €18.73 €28.09 €46.82
Death-in-service benefits Gross €1.14 €1.17 €2.34
Sick Pay  Nett €0.67 €1.34 €2.01
Health Trust Nett €1.00 €0.00 €1.00
Benevolent Funds Nett €0.50 €0.19 €0.69
Total   €22.07 €30.79 €52.86

Category: POC - Pension Only no DIS

  Type Member contribution Employer contribution Total
Pension benefits Gross €18.73 €28.09 €46.82
Total   €18.73 €28.09 €46.82

Before you install v23.4

To ensure you're using the correct rates:

  • For payrolls with pay dates on or before 27 September 2020, you must process before you download and install the update.
  • For payrolls with pay dates on or after 28 September 2020, you must download and install Sage Payroll 23.4 before processing payrolls.

 

After you install v23.4

You must to clear the CWPS balances and history, set up the new CWPS year and ensure the employees are assigned to the correct CWPS category.

Clear the CWPS balances and history:

  1. From the menu bar at the top of your window, click Year End then click New Construction Pension Year.
  2. When you receive the prompt to clear the balances and history, to continue, click Yes.
Set up the CWPS tax year calendar:
  1. From the menu bar at the top of your window, click Company/Payroll then click Construction Workers Pension.
  2. Click the Calendar tab.
  3. Click Create New Calendar.
  4. Enter the start date of the new CWPS tax year.
    The new CWPS year starts on Monday, September 28, 2020.
  5. Click Create.
  6. Check the dates and information are correct for the new CWPS tax year. If not, amend as required.
  7. Click OK.

Check the CWPS Category:

The accepted CWPS categories are -
  • Pension only no DIS.
  • Pension/Sick Pay.
  • Standard Contribution + Industry Additions.

To check and amend the CWPS category:

  1. On the menu bar, click Processing then click Employee Details.
  2. Next to the Surname box, click browse Image then click the relevant employee.
  3. Click the Deductions tab
  4. Under Construction Worker's Pension Scheme,  select the correct category from the drop-down list.
  5. Click Save.