Pensions Feature

Pension enrollment, pension opt-out, pension reports

Enabling Pension Tracker

Log in to your HRLocker admin account.
Navigate to Office Settings.
Click on Edit to access the office settings.
Locate the Pension Tracker option and enable it.
Set the number of years after the date they opted out when the auto-enrollment should occur.
Upload the Pension document. This will be available for employee to view in the Pensions tab in their Directory page.
You can send reminder emails to employees, and cc emails, before they are auto-enrolled in the pension plan.
Set the timing for sending the reminder email.

Managing Employee Pension Enrollment

In the Employee Directory, the Pension tab allows you to manage employee pension enrollment status and details.
In the Pension tab, you can set an employee's status to either Enrolled or Opted Out.
Add the necessary pension plan details for each employee.
Set both the employee and employer contribution, specifying whether it's a fixed amount or a percentage.
Optionally, allow employees to make voluntary contributions.
Employees will able to access the pension plan from their directory
To maintain transparency and track changes related to the Pension Tracker feature, there is an activity log.
Here, you can view a log of all changes made regarding the pension enrollment status.

 

Pension Reporting

Pension Participation Report
The Pension Participation Report provides an overview of your employees' pension participation status.

Columns:
First Name: The employee's first name.
Last Name: The employee's last name.
Office: The employee's office location.
Department: The employee's department.
Start Date: The date when the employee started working.
Date of Birth: The employee's date of birth.
Status: Indicates whether the employee has opted in or opted out of the pension plan.
Date Opted Out: This column may be blank or contain the date if the employee has opted out. It will be blank if the employee has not opted out.

Pension Details Report
The Pension Details Report offers a comprehensive view of the specific pension plan details for each employee.

Columns:
First Name: The employee's first name.
Last Name: The employee's last name.
Office: The employee's office location.
Department: The employee's department.
Start Date: The date when the employee started working.
Date of Birth: The employee's date of birth.
Pension Name: The name of the pension plan.
Provider: The pension plan provider's name.
Currency: The currency in which the pension contributions are made.
Start Date: The date when the pension plan started for the employee.
End Date: The date when the pension plan ends, if applicable.
Review Date: The date when the pension plan is scheduled for review.
Employee Contribution: The contribution made by the employee, either as a fixed amount or a percentage.
Employer Contribution: The contribution made by the employer, either as a fixed amount or a percentage.
Frequency: Indicates how often contributions are made (e.g., monthly, annually).

These reports will provide you with a comprehensive view of your employees' pension participation and the specific details of their pension plans.

If you have any questions or need further assistance with these reports or any other features in HRLocker, please don't hesitate to reach out to our support team for help.