Benefits>>Pension Admin>>Pension Setup>>Interest Rate Codes
Interest Rate Codes
The rates at which interest is calculated on the contributions made into a pension plan or on the benefits accrued must be defined. Interest rates within a pension administration plan can differ based on several factors.
You must enter interest rate codes for normal (ordinary) and additional voluntary contributions. If other interest rates exist, then this must be defined here.
Set up Interest Rates Codes
Interest Rates MUST be set up for Normal (Ordinary) and Additional Voluntary Contributions.
Interest Rate Code/Description: Enter a user-defined, unique code and description to identify the interest rate.