Location: Account Maintenance Process/Pension Adjustments
Canadian legislation requires that employers must report Pension Adjustment The value of a member's pension accumulated in a calendar year under a defined benefit or a defined contribution pension plan. This value is calculated based on a specific formula under Canada Customs and Revenue Agency Regulations. The value is applied to determine the contributions that a member can make to a personal Registered Retirement Savings Plan.s or PAs for plan members, on each member's T-4 slip within 60 days from the end of each year.
When you select Pension Adjustments from the Account Maintenance process, the system displays a history of PAs calculated for the member.
Click the View icon to open and view the calculation details for the Pension Adjustment.
To calculate and display PAs on the calculation worksheet, the system requires a PA formula and a PA benefit calculation definition to be set up in the Year-end (Calculations) folder in Rules.
Note: For Pension Adjustments to be calculated, the Calculate Canadian PA/PAR indicator must be set to 'Yes' on (Product) General.
For more information, see How to Set Up a PA Calculation.
For more information, see Account Maintenance Process (Online).
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