Hypertext: Object Class - Class to which a document belongs.
Document Name
OHAIE_PEN
The constant STPEN is the annual state pension constant is sometimes used in pensions calculations. This figure is multipled by a certain figure and divided down to get the per period contribution. Only some pension schemes use this constant.
This constant is stored in the 'Payroll Constants' table T511P. The amount should be reviewed at the start of the pension year.
Activities
In this step, you maintain the constant value. This constant must be maintained for the Tax Year 99/00. Additionally, ensure that this constant is always kept up to date.
Note
With this step, you can also create new constants to be used for pension contribution calculations. For example a constant value which is subtracted from all salaries for the employer contribution.
All constants for pension calculations must be stored in table T511P.