👉 Tip: You'll need the 'EmployerID,' a unique code assigned by Penfold to each employer. Typically, it starts with PEN followed by your Company Number. You can find it on the dashboard 👇
To set up a Penfold Pension in MoneySoft Payroll Manager, go to to the Pensions menu. You can create up to 5 pension schemes for the company - select a blank one or edit an existing one, if required.
Enter the following information:
Name | Penfold |
Provider Type | PAPDIS |
EmployerID | A unique reference number. It's usually PEN followed by the Company Number. If you're unsure, check on the Penfold Dashboard. |
Tax Relief* | Salary Sacrifice - Select if you're offering Salary Sacrifice with this scheme.
Basic relief at Source - Alternatively, select 'Basic relief at Source' and then 'Reduce by Basic Rate Tax option' to Yes. |
Earnings basis | % apply to all pensionable earnings: Select for Basic or Total pay
% apply to banded qualifying earnings only: Select if you want to use the statutory minimum definition of pensionable earnings (all earnings between £6,240 and £50,270). |
Default pension rates | You can adjust the company’s minimum contribution rates, if they are paying higher than the statutory minimum rates. |
Everything else in this screen can be left blank. All done! ✅
* Note: Net Pay is not a suitable option to use with a Penfold Pension.
👉 Tip: If you have some employees on Relief at Source and some on Salary Sacrifice, you will need to create two pensions e.g. Penfold RAS and Penfold SS.
Enrolling employees in the Penfold Pension
Go to the Employees menu, select each relevant employee and follow these steps:
Go to the Auto Enrolment section
Select Penfold from the Auto Enrolment Pension dropdown
Set the Assessment and Enrolment Type (e.g. Eligible Jobholder / Auto Enrolled)
Set the Date Joined (or enter a date to Defer / Postpone to if required)
Click Set Contributions and click OK to set the contributions to the scheme defaults, or manually override if required. Click ok to Save ✅
👉 Tip: - if the employee is already in a different scheme, you will need to add a Leave Date for that scheme first and click OK (ensure the Date Joined field is blank), before you do the below steps.