What is different in an Employer in which Pension Fund is chosen as Industry?

• Modified on: Thu, 7 Feb, 2019 at 8:23 AM

Celery is especially developed for a correct and quick processing of the periodic pension payroll. This concerns mainly the payroll processing of Old Age pensions, but also Widows and Orphans pensions. Also, this option within Celery applies to pension payroll processing of Pension Facilities created in Private Pension funds.

First, when creating the employer, the industry ‘Pension Fund/Pension Insurance company’ must be selected. As a result, in this payroll special features will be applicable to this employer in the pension industry.

When creating a pensioner, the employee category ‘Pensioner’ can be chosen. If this category is chosen, various employee settings are immediately set up to make a correct gross-net pension calculation and pay slips.

Examples of such settings are:

1. The application of acquisition costs will automatically be deactivated;
2. In various places within Celery, the word 'salary' is replaced by 'pension';
3. Social premiums that are not applicable on pensions are automatically disabled;
4. Social security premiums are set as default as required by law to be applied to pension payroll payments (without employer's contributions);
5. Any deviating percentages of social security premiums, especially for pension plans, will be applied automatically;
6. The pensioner has access to his/her pay slips in his/her own online Celery Employee Account, which document in the pension industry is not called ‘pay slip’ but ‘pension specification’ and
7. Pensioners with their own online Celery account, in addition to their monthly pension specifications, receive their Annual Report (in Dutch: Jaaropgave) in their online account annually.