Set up retirement deductions and contributions

You can set up pay cheque deductions for the amounts employees pay into their retirement plan. If you contribute to an employee's retirement, you can also set up company contributions for this benefit.

Set up retirement contributions for employees

  1. In the left navigation bar, click Employees.
  2. Click the employee's name.
  3. Under Does the employee have any deductions, click Add a new deduction or if you don't see this option, click the pencil icon.
  4. Select an existing contribution from the Deduction/contribution drop-down, or select New deduction/contribution. If you don't see the Deduction/contribution drop-down arrow, go to the next step.
  5. Click the Deduction/contribution type drop-down arrow and select Retirement Plans for the type.
  6. Choose the specific type of retirement plan such as Registered Retirement Savings Plan.
  7. Enter the provider name.
  8. Under Company-paid contribution, select $ amount or % of gross pay and then enter the amount or percentage of the contribution per pay cheque for this employee (if you need to, you can change this amount on the pay cheque when you create it).
  9. Optionally, enter the annual maximum.
  10. Click OK.

 


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