How To Fix 5G614 - EE + ER pension contributions exceeds annual allowance of & GBP by & GBP

SAP Error Message - Details

• Message type: E = Error

• Message class: 5G - HR: Messages for Britain

• Message number: 614

• Message text: EE + ER pension contributions exceeds annual allowance of & GBP by & GBP

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message 5G614 - EE + ER pension contributions exceeds annual allowance of & GBP by & GBP ?

  The SAP error message 5G614 EE + ER pension contributions exceeds annual allowance of & GBP by & GBP typically indicates that the total pension contributions made by both the employee (EE) and the employer (ER) have exceeded the annual allowance set by the tax regulations. This can lead to tax implications for the employee, as exceeding the annual allowance may result in a tax charge.
  Cause:
  
  Excess Contributions: The combined contributions from both the employee and employer have surpassed the annual allowance limit.
  Incorrect Configuration: There may be incorrect settings in the payroll configuration or employee records that do not reflect the correct annual allowance.
  Multiple Pension Schemes: If the employee is part of multiple pension schemes, contributions from all schemes may be aggregated, leading to exceeding the allowance.
  Changes in Legislation: Changes in tax laws or pension regulations may affect the annual allowance.
  
  Solution:
  
  Review Contributions: Check the total pension contributions for the employee and employer to confirm if they indeed exceed the annual allowance.
  Adjust Contributions: If contributions are too high, consider adjusting future contributions to ensure they remain within the annual allowance.
  Check Configuration: Review the payroll configuration in SAP to ensure that the annual allowance is set correctly and that all relevant employee data is accurate.
  Consult Tax Regulations: Familiarize yourself with the current tax regulations regarding pension contributions to ensure compliance.
  Employee Communication: Inform the employee about the situation and potential tax implications. They may need to take action, such as applying for a tax relief or adjusting their contributions.
  Seek Professional Advice: If necessary, consult with a tax advisor or pension specialist to understand the implications and options available.
  
  Related Information:
  
  Annual Allowance: The annual allowance is the maximum amount of tax-relieved contributions that can be made to a pension scheme in a tax year. This limit can vary based on individual circumstances, including income levels and any previous pension contributions.
  Tax Implications: Exceeding the annual allowance may result in a tax charge on the excess contributions, which the employee may need to pay through their self-assessment tax return.
  Pension Scheme Types: Different pension schemes may have different rules regarding contributions, so it’s important to understand the specific rules that apply to the schemes involved.
  
  By addressing the cause of the error and implementing the suggested solutions, you can resolve the issue and ensure compliance with pension contribution regulations.