Pension
Funds GB (Infotype 0071) 
Definition
This infotype stores an employee’s own pension contributions, his or her employer’s contributions, as well as any additional pension contributions an employee may choose to make.
Use
All information for calculating contributions to be paid into employees’ pension schemes is stored in Pension Funds GB records. When employees opt to join schemes available in your company, you need to create the appropriate records for them, which are valid from the date on which they have chosen to join.
During their employment, employees’ pension situations may change. You therefore need to create new records to reflect each of these changes.
If employees decide to change the contributions they make to a particular pension scheme, you must create new infotype 0071 records to reflect these changes. Should you receive a request after the payroll has been run for a particular period, changing the record will trigger retrocalculation.
Structure
In order to display or edit a Pension Funds GB record, you must first enter a pension subtype. This is the type of scheme that the employee contributes to, which may be a flat-rate, percentage, or a mixed-value pension scheme. If you have a company pension scheme, this will also have been set up as a subtype of infotype 0071.
Flat-Rate Contributions
If the employee contributes to a flat-rate scheme, you must maintain both the flat-rate contributions for the employee and the employer in this infotype.
Percentage-Rate Contributions
If the employee contributes to a percentage scheme, you must maintain both the percentage contributions for the employee and the employer in this infotype.
Mixed-Value Contributions
When an employee in your company has opted for a mixed-value pension scheme, and contributes varying percentages or amounts from his of her salary, you must enter the respective contribution to be made, per band. These are the agreed amounts from the lower, middle and upper bands of the employee's monthly gross salary which he or she will pay into the pension scheme. You must also maintain the employer’s mixed-value contributions in the same way.
Pension Cap Indicator
This must be set if an employee is exempt from the Pensions Scheme Earnings Cap regulations.
Low and High Band Levels.
You must set the salary band levels to divide the employee's monthly gross salary into the bands defined for any mixed-value pension schemes that you offer. The standard band options delivered by SAP are:
· Lower
· Middle
· Upper
Flat-Rate Additional Voluntary Contributions.
You can also record any additional voluntary contributions (AVCs) which will be paid by the employee into a pension scheme. Such flat-rate AVCs may be made on a regular or ad hoc basis, irrespective of the type of pension scheme the employee pays into.
Percentage Additional Voluntary Contributions.
You can also maintain any additional percentage voluntary contributions paid by the employee into his or her pension scheme. Such percentage AVCs may also be made on a regular or ad hoc basis, irrespective of the type of pension scheme the employee pays into.
Free Standing Additional Voluntary Contributions.
Free Standing Additional Voluntary Contributions (FSAVCs) are pension contributions which the employee can make to a personal pension provider, from his or her salary. An employee may make contributions to only one such scheme in a given tax year. Only employees who are also members of an occupational pension scheme may contribute to a FSAVC scheme.
For information on setting up a pension subtype and on setting up pension schemes in general, refer to the section on Pension Schemes in theImplementation Guide for Payroll: Great Britain.
Retrocalculation Implications
Backdated changes to the Pension Funds GB (infotype 0071) record do trigger retrocalculation.
See also:
Flat-Rate Pension
Scheme