Superannuation Fund - Deductions (New Zealand)

Payroll | Superannuation | Superannuation Fund | Deductions tab

Overview

Most of the Deductions tab fields contain deductions used in Transaction View for superannuation calculations. However, you can use the Values (%) – Employee (%) as a default value when you create an Employee Super Fund record. Payroll rules can reference these deduction codes to generate superannuation transactions.

These fields are not mandatory, but you must enter the relevant deduction codes if you want PayGlobal to generate that type of superannuation deduction. If you leave any of these fields blank, then:

The corresponding deduction field will be disabled in Employee Super Funds records associated with this superannuation fund.
PayGlobal cannot generate superannuation transactions for that deduction for employees attached to this superannuation fund..
Important: You can select only deductions that have Details (iii) tab | Superannuation deduction = "Yes".

Fields

Employer (%):

U-type deduction that creates the employee's percentage value.

Employer ($):

U-type deduction that creates the employee's fixed value.

Other Member (%):

Disabled when Details tab | KiwiSaver status = "KiwiSaver scheme".

D-type deduction that creates the Other Member's percentage value.

Other Member ($):

Disabled when Details tab | KiwiSaver status = "KiwiSaver scheme".

D-type deduction that creates the Other Member's fixed value.

Salary Sacrifice Ded (%):

D-type percentage deduction that PayGlobal uses to reduce the employee's salary.

Salary Sacrifice Ded ($):

D-type fixed deduction that PayGlobal uses to reduce the employee's salary.

Values (%) - Employee (%):

The employee's percentage contribution to this superannuation fund. When you create an Employee Super Funds record you can copy across this value, and then manually adjust it if required.

If the Details tab | KiwiSaver status = "KiwiSaver scheme" or "Complying fund", then the default Employee (%) value is the KiwiSaver | Details tab | Minimum employee contribution rate.

PayGlobal uses the following hierarchy to define the Employee (%) value:

Employee Super Fund | Deductions tab
Superannuation Fund | Deductions tab.
Note: Running the KiwiSaver Update Tool does not update the Values (%) - Employee (%) value. You must manually edit this value in the Superannuation Fund record.