What is statutory pension in SAP PY-FR - France?

SAP Term: statutory pension

• Component: PY-FR

• Component Name: France

• Description: In , the mandatory pension to which both employer and employee contribute through their professional activity.

Smart SAP Assistant

• Key Concepts: 
  Statutory pension is a type of retirement plan that is mandated by the government. In France, it is known as the Régime de retraite de base (RDB). It is a pay-as-you-go system, meaning that current contributions are used to pay for current retirees' benefits. 
  
  How to use it: 
  In SAP, the statutory pension component PY-FR France is used to calculate and manage the contributions and benefits associated with the RDB. It allows employers to calculate the contributions due for each employee and to manage the payments to the pension fund. It also provides reports on the contributions and benefits paid out. 
  
  Tips & Tricks: 
  When setting up the statutory pension component in SAP, it is important to ensure that all of the relevant information is entered correctly. This includes employee data, contribution rates, and payment information. It is also important to ensure that all payments are made on time in order to avoid any penalties or fines. 
  
  Related Information: 
  For more information on statutory pensions in France, please refer to the website of the French Social Security Administration (Caisse Nationale d'Assurance Vieillesse).