Set up retirement fund in Sage 300 People

Create the retirement fund

1. From the Navigation pane, expand Parameters
2. Expand Payroll
3. Double-click Retirement Fund
4. Select New
   • Note: Don't select N/A Retirement Fund for South African tax country

Link the retirement fund

1. From the Navigation pane, expand Parameters
2. Expand Payroll
3. Double-click Company Retirement Fund
4. Select New

Create the deduction definition

1. From the Navigation pane, expand Company Management
2. Expand Payroll Definitions
3. Double-click Deductions
4. Select New
   • Complete Linked Company Contribution
   • If missing, select from the dropdown or create a new contribution

Create the company contribution

• Mandatory fields:
  • Company Retirement Fund
  • Linked Deduction
• After saving, the following fields become read only:
  • Deduction Type
  • Company Contribution Type
  • Linked Company Contribution
  • Company Retirement Fund

System health check and alerts

• Health check on the landing page shows missing mandatory fields
• Basic alert warns if fringe benefit for retirement fund is R0.00
• Fringe benefits apply at a zero rate if:
  • Employer contributes for a retired member
  • Employer contributes for dependents or nominees of a deceased member

Fringe benefit restrictions

• The payslip definition screen makes the following fields read only:

  • Fixed
  • Recurrence Amount
  • Recurrence Type