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The SIF - What contributions should I include?
The SIF - What contributions should I include?

Knowing the contributions to deduct and to include on the SIF for employees of my retirement plan

Updated over a month ago

When an employee wishes to join the pension scheme you will onboard the employee via SIF and enter them into a benefit group this will advise what contributions will be deducted for the member. A list of benefit groups is on the Employer Homepage like below. e.g. Benefit Group 1234 -ER 5% EE 5% - these amounts will be deducted from the payroll.

Employees have access to add an AVC(Additional Voluntary Contribution) to their Pension plan, the Employee platform is self serve so it is the Employees responsibility to increase/decrease their AVC as they see fit. When an employee has made a change to their AVC an email is sent to the employer the following morning advising of this update they, must add this to the SIF to make sure the correct amounts have been deducted for the employee.

There is a cut off date across all schemes for employees to login a nd change their AVC, they have until this cut off date to make changes to their AVC contributions. After this cut off date all changes must be applied on the next months SIF file. Employers can email Digital Support to confirm their schemes cut off date if unsure.

On the Employer platform there is a section to view employees most up to date contribution percentages. To locate this screen go to Menu > Retirement Plan Set up > Employees box. This section pulls up a spreadsheet of all employees both active and ceased you can sue the Filter & Options button to pick and choose what you wish to view.

You can export this file by clicking ‘Export’ and then select export in CSV or XLS.

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