POWERpay>>Process Payroll>>Cycle Changes
Enter a D DEDUCTIONS....NIS NATIONAL INSURANCE...X FIXED ENTRY...R RETIRED... cycle change.
Voluntary Retirement - the following cycle change indicates to the system that the employee is 60 and over and has voluntarily retired but the employer still pays national insurance contributions in keeping with the laws of Trinidad and Tobago.
The payroll will process this employee’s NIS contribution in the ‘Z’ class as per the current NIS Schedule of Trinidad and Tobago.
Enter the cycle change with the following value in the CCenter/Other field. Applicable to Jamaica only:
- T - flags an employee as Temporary whereby tax credits are only applicable for the current cycle worked.
- V - for NHT, voluntary contributor over 65.