If the referable amount on a pension benefit statement appears incorrect, it’s usually due to an issue with the employee’s pension record. This is most often an incorrect pension start date, or cases where an employee has left and rejoined the scheme without a refund being processed.
To check where the incorrect value originates, follow the steps below in back office.
Click CorePension then click Maintenance.
Click View Employee Pension Benefits.
In the Employee Ref. field, enter the employee number.
In the Pension Scheme field, enter the scheme number.
In the Calculation Date field, enter the calculation date.
Press Tab on your keyboard then click View Benefit Details.
If a field on the statement has a plus sign to the left, click this to expand it and check how the calculation was derived.
If you notice a negative contributory state pension or other unusual figures after checking the benefit details, review the employee’s record for inconsistencies and make any necessary corrections. Once the start date and refund information are accurate, the pension benefit statement should display the correct referable amount.