KiwiSaver adjustments can be setup to repeat indefinitely or to expire after a specific date. KiwiSaver adjustments can be set for Employee contribution, Employer contribution and or Employer Superannuation Contribution Tax (ESCT).
To adjust an employee's KiwiSaver you need to open the employee file and then click on "Pay Run Inclusions" on the left hand menu.
In order to enter KiwiSaver
You will then need to enter the following details:
- Select the appropriate contribution type 'Employee Contribution', 'Employer Contribution' or 'Employer Superannuation Contribution Tax (ESCT)' from the drop down list.
- Enter the adjustment amount to be applied per pay run. It can be a 'Fixed' amount, a 'Percentage of gross', 'Percentage of KiwiSaver earnings' or 'Percentage of taxable earnings'.
- Enter any notes if you want the employee to see them on their pay slip.
- Enter the date this inclusion is to commence.
- Choose when this inclusion should cease (a specific end date, never or once a particular dollar amount has been reached).
- Click on 'Save'.
Once the KiwiSaver adjustment is saved, the KiwiSaver adjustment will automatically apply in the employee's relevant pay run as per example shown below.
If you wish to edit a recurring super adjustment after it has been created, click on the name in the list of KiwiSaver adjustments that have been assigned to this employee. You'll be able to edit any of the properties of that adjustment (apart from the contribution type category).
To delete a super adjustment, click the red cross on the far right hand side of its entry.
Alternatively, you can manually apply the KiwiSaver adjustment as a one off in the pay run by going into the employee's pay run row, click on the 'Actions' button and then to 'Adjust KiwiSaver'.
N.B - This option will not show if the employee is on a savings suspension.
'KiwiSaver Adjustment' section will appear in the employee's pay run, select the contribution type from the drop down, enter in any notes and the amount.
Once the KiwiSaver adjustment details have been entered in the employee's pay run, remember to click on 'Save' for the adjustment to be recalculated and applied to the employee for that pay run.
Things to note:
- The pay slip displays the Kiwisaver employee and employer contribution percentages based on the percentage selected at the employee set up as the default. If there are KiwiSaver adjustments, on the pay slip, the employee and employer KiwiSaver percentages are also updated accordingly to reflect the KiwiSaver adjustment.
- For example, at the employee set up, the employee contribution is 3% and employer contribution is 3%. KiwiSaver adjustment is set to deduct -$10.00 from the employer portion. Therefore the pay slip will display the employee contribution of 3% and employer contribution of 2%.
- You have the option to show or hide the KiwiSaver percentages in the pay slip by setting up the Pay Slip configuration.
- ESCT will be calculated automatically on any employer kiwisaver adjustments.
- The start/end date of the adjustment is based on the date paid within pay runs