How do I create a Defined Contribution Fund?

Pension, Provident or Retirement Annuity Funds can be a Defined Contribution Fund
When adding a Retirement Fund refer to the Help alongside each step for more information
If the Company has a Pension and a Provident Fund with the same Retirement Funding Company, E.g.: Old Mutual Pension Fund and Old Mutual Provident Fund, set up two separate Retirement Funds, one under Pension Fund and one under Provident Fund.
From the main screen of the company go to Payroll>Definitions>Retirement Funds
Select if it is a Pension or Provident Fund
Click on Fund Setup: Step by Step Guide
Select Step 1: Define Fund Name and complete the relevant information
Click on continue and select Step 2: Define Scheme Name
A Retirement Fund will have Retirement Schemes to which the Employee belongs and to which they must be linked.
A separate Scheme must be created if the Type of Fund, Category Factor or Retirement Funding Components differ.
Double click on the Scheme for which you would like to add information
Complete the relevant information
Type of fund will be Defined Contribution Fund

Category factor to be completed as provided on the contribution certificate
Click on continue and select Step 3: Define Scheme Components
Double click on the scheme
A single Scheme can have more than one set of Components and a single Component Code can be made up of several Deduction and Company Contribution lines.
The system will ONLY display Deduction and Company Contribution lines that have the applicable IRP5 Codes (4001 – Pension, 4003 – Provident, 4006 – Retirement Annuity) linked on the Deduction Definition Screen. Only approved funds should be set up on the Deduction Definitions Screen with their corresponding IRP5 Codes
Double click to change the No to Yes to line the respective line