Changes to NHS Pension Scheme are required from 1st October 2022. The main purpose of the changes include using actual pensionable pay instead of Whole Time Equivalent to set pension rates, and changing the pay tiers on which pension rates are determined. These changes were originally planned to be implemented…
Read moreNew Pension Rate to be used from 1st October 2022 are as follows: Please note, at the time of the release of Kashflow Payroll version 1.7.7 (20/09/2022) – NHS Scotland and Northern Ireland are yet to confirm their finalised rates and contributions. We have based the rates on initial…
Read moreThe following applies to: Normal Staff – paid for a single post – Employee type 1 Doctor – Assistant/Retainer (Practice is pension provider) – Employee type 5 If an employee has been added to the NHS Pension Scheme post April 6thst 2022, the Employee Basic Contribution rate will be…
Read moreFor Employees who have been in the NHS Pension scheme prior to April 6th 2021: 1. The system will check the annual rate of pensionable pay for the tax year ending 2021/22 2. For full time employees, this will be obtained from the following: Full Time…
Read moreUnfortunately, because of the complexities of the new calculation to set the Employee Basic Contribution rate, there are 2 scenarios where KashFlow Payroll cannot guarantee the correct Employee Basic Contribution Rate. The following scenarios will require a payroll user to double check the figures, and manually amend the Employee Basic…
Read moreA new report has been introduced to KashFlow Payroll which will show the contribution rate changes. The report is called Pension Rate Summary, and can be printed from: Reports | GP Pension Reports | Pension Rate Summary Users will also be prompted to print the report when finalising the last…
Read moreIf an employee has received a salary increase in the new tax year 2022\23, the Employee Basic Contribution rate that the system has set will need to be checked and amended if necessary. Example: The pensionable Earnings for an employee for the year ending 21/22 were £16,700 This means the…
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