Enables you to define parameters that are used to calculate and deduct student loan repayments from the employee's pay during pay cycles.

Note: Calculated student loan repayments are allocated to pay element 0125.

General

Effective Date

Date when the parameters take effect.

Plan Type

The Plan type of the student loan that the repayment applies to.

Annual Threshold

The limit of National Insurance liable pay, above which loan deductions can be taken.

Deduction Percentage

The percentage of National Insurance liable pay to be deducted in each pay cycle.

MD28S2