Planit:Defined Contribution Pension

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Assets and Liabilities Screen

1. Click New Account above the existing assets.

2. Enter a Description and set the Ownership to 100% for Sally Barber.

3. The Account Type should remain at Registered Investments, but the Regulatory Type should be changed to LIRA.

4. Click Save

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5. Enter a market value of account

6. Enter in Savings for the Employee and save

Now you need to enter the Employers Contributions this is done on the Savings Screen.

Savings Screen

In the Savings screen you will add the employer contributions to the work pension. Click Edit beside the Registered Savings stream.

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  1. Set the Matching Amount to $2,500, since the employer is contributing an additional 5% of Sally’s salary.
  2. Click Save