Premium History

Accessing Premium History

Premium History can be found under the Details tab on a plan. Here, you can see all your Premium History for that particular plan.

Pensions work a little differently and will be covered separately below.



If you want to filter these results to find a specific premium, you can press More Filters. This opens up the filtering options, including the ability to filter by data range, frequency and transfer type, to name a few.



Once you've added these filters, you can remove them at any time by pressing the Reset Filters button.

Adding a Premium

To add a premium, select Add and, from the dropdown list that appears, select Premium.



The following modal then appears, allowing you to set up a premium.

You can only have one recurring premium schedule set up per plan. If you want to add further concurrent premiums, these can only be adhoc or one off. Alternatively, adding a new recurring premium will prompt you to cancel the existing one first - so if you're changing the amount you will need to end the current premium schedule and start a new one from the following day.



You can also record whether the premium is as a result of a Switch or Transfer. Once either has been selected you will be able to record that is coming from an existing plan and either choose a plan within Plannr or by selecting 'Click here if you don't know the plan' the plan type and plan sub type. Further information can be added to the details area.







Once you're happy with it, press save.

Beware of editing premiums as editing a premium WILL edit the premium history. Instead, end the premium schedule and begin a new one.

Pensions

Once the pension is created, you will need to update the Pensionable Salary in the Plan Details tab if you are inputting employee/employer contributions as a % of salary. Alternatively, you can enter in the contribution as a fixed amount.



After updating this, you can add the premium(s). As this is a pension, we will assume that the employer and employee will both contribute 5% of the pensionable salary to this pension plan.

First, I'll add the employee contribution. Selecting % Amount allows you to add a contribution based on the Pensionable Salary. Ensure to input the appropriate % (in this case 5%) and select whether this contribution is coming from the employer or employee.



I'll then add the employer contribution as below.

The only time you can have two recurring premiums is in a pension when receiving contributions from the employer and employee.



Once these have been added, going back to the premium tab you can see the premium history for both contributions.

Group Schemes

Before adding the premium history onto a Group Scheme, you must ensure the following steps have taken place:

Add Sub-Scheme (if required)

Once your Group Scheme is created, you can set up Sub-Schemes to demarcate the premium contribution rules for each scheme member. More information on this is available here.

Add Staff Members to the Sub Scheme

After the sub scheme is created, you must add the Staff Members to the sub-scheme.

Update Staff Members' Pensionable Salaries

Pensionable salaries are updated within the Plan Details. To add the Pensionable Salary, enter it into the appropriate box (highlighted below) and save.



As this is a sub-scheme, I have already determined the amount the employee and employer will contribute.



You can always go in and edit this for particular members on their Plan Details tab if they, for example, contribute more than the established %.



There is no premium history at the sub scheme level as this is just the rule setting for the premium percentage rules which are payable for each group of scheme members.

To access premium history for a group scheme, go to the Scheme Members and select the edit icon (the pen) for the appropriate member.



From here, go to the Premium tab on the right, underneath Plan Details. Here you'll be able to see the premium history for this particular scheme member.

Updated on: 31/07/2024