How to complete your payment file

Welcome to this quick tip video on how to complete your payment file, if your scheme uses salary sacrifice.

Let’s go through some of the columns to see what they mean.

First, let’s look at the Pensionable Pay definition.

Pensionable pay is the part of the employee’s salary that you base the contributions on.

This should be a minimum of Qualifying Band Earnings, or a definition you’ve self-certified. For more details on Pensionable Pay definitions, please go to the Pension regulator’s website.

Next, we have the regular payment columns. We’re looking for monetary amounts in these columns.

For the employer column, we need the full amount. This is a total of your employer contribution and the amount sacrificed by your employee. That’s because you’re technically paying an extra employer contribution in exchange for the employee sacrificing part of their salary.

The employee column should be zero.

Moving along to the percentage columns, again, the total percentage goes on the employer column, and you should show zero in the employee column.

Our system will check that these figures meet the minimums and tie up with each other.

That’s it.

Thanks for watching.