IE PAY : Personal Retirement Savings Account (PRSA) seeded pension : Incorrect results for Weekly payroll (Doc ID 1943109.1)

Last updated on JUNE 20, 2017

Applies to:

Oracle HRMS (Ireland) - Version 12.1.3 and later
Information in this document applies to any platform.

Goal

 Set up a Personal Retirement Savings Account (PRSA) pension as per the instructions in Oracle® HRMS for Ireland Supplement, Release 12.1. 

For a WEEKLY payroll the calculations are not as expected.


Investigations showed that the system generated fast formula <base name>_PENSION_DEDUCTION will not work for a weekly payroll.  
The following line is generating a incorrect value:

l_pensionable_pay = IE_PENSIONABLE_PAY_ASG_YTD+IE_PENSIONABLE_PAY_ASG_PTD*((12*IE_PAY_PERIODS_PER_PERIOD)-PAY_PROC_PERIOD_NUMBER)

  
Eg:  l_pensionable_pay = 32,000 + 1,000 * ((12*1)-33) = 32,000 + 1,000 * -21 = 11,000

It can be seen that it is using 12*IE_PAY_PERIODS_PER_PERIOD

Weekly payroll are not x 12.

WORKAROUND :

===========

As a workaround I have substituted the above line with:

 

l_pensionable_pay = IE_PENSIONABLE_PAY_ASG_YTD+IE_PENSIONABLE_PAY_ASG_PTD*((PAY_PERIODS_PER_YEAR*IE_PAY_PERIODS_PER_PERIOD)-PAY_PROC_PERIOD_NUMBER)

  

Eg:  l_pensionable_pay = 32,000 + 1,000 * ((52*1)-33) = 51,000

A rerun off the Quickpay using the revised formula produces the correct result.

Solution

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