Trinidad and Tobago - Pension & Annuity Contributions
by VedTech Solutions https://www.vedtechsolutions.com$ 1247.00
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Employees (hr)
• Invoicing (account) • Time Off (hr_holidays) • Discuss (mail) • Calendar (calendar) |
| Community Apps Dependencies | Show |
| Lines of code | 8636 |
| Technical Name |
vedtech_tt_pension |
| License | OPL-1 |
| Website | https://www.vedtechsolutions.com |
Trinidad & Tobago — Pension & Annuity Contributions
Every contribution deducted, matched, posted and remitted
Pension and annuity contributions for the Trinidad & Tobago payroll suite — enrol employees in company pension plans or the external annuities they bring, deduct on every payslip with an optional employer match, post each provider's money to its own liability account, and reconcile with a monthly remittance report. Net pay is never driven below zero, and every figure on the remittance is exactly what the payslip posted.
Requirements — part of the T&T suite
This module requires the Trinidad & Tobago — Payroll
module (vedtech_tt_payroll) and installs it automatically as a dependency
(which in turn installs the T&T Accounting localization), so make sure those base
modules are available in your database.
Pricing note: Odoo Apps may display the combined purchase price for this module and its required dependencies. This pension module is priced at $99; the required Payroll and Accounting modules are priced at $999 and $149.
Contributions done properly
One lifecycle per enrolment: agree the terms, activate, deduct every period, remit to the provider — with the agreed terms frozen so what was signed is what deducts.
Plans & Providers
- One plan per provider scheme — company plans and external annuities
- BIR-approval flag with the approval number on record
- Each plan carries its own liability account (and employer expense account)
- Multi-company safe: plans, accounts and rules per company
Enrolments
- Percent-of-basic or fixed amount per pay period
- Terms freeze on activation — changes go through close-and-re-enrol, so history is auditable
- Suspend / resume / close, manager-gated with a full chatter trail
- Employees see their own enrolments, read-only
Employer Match
- Percent of the employee's contribution, percent of basic, or fixed
- Optional per-period cap on the match
- Matched on what was actually deducted — a short period is matched on the real amount
- Posts as an employer cost; net pay untouched
Payslip Safety
- Deducts after PAYE, NIS and Health Surcharge — statutory bases untouched
- Net-floor: pay never goes negative; shortfalls are surfaced on the slip and remittance, never silently carried
- Percent contributions follow prorated pay automatically
- Confirming re-checks every figure against the enrolments — stale slips must be recomputed
Per-Plan Accounting
- Each provider's liability account receives exactly its own contributions
- Employer share debits the plan's expense account
- The per-plan split is frozen on the payslip and immutable once confirmed
- Balanced entries through the standard payroll journal
Remittance Report
- Monthly, per provider: employee share, employer share, totals to pay over
- Built from confirmed payslips only — reconciles to the journal to the cent
- A slip belongs to the month its pay period ends in — weekly runs never drop or double a period
- PDF for the provider's records
Planned — PAYE relief for approved plans
Contributions currently deduct from net pay (statutory deductions unchanged) — correct for unapproved plans and conservative for BIR-approved ones. At-source PAYE relief for approved pension and annuity contributions under the combined TD1 line-4 cap (including the 70% NIS component) is planned as an opt-in setting in an upcoming version, pending professional confirmation of the current figures — the same statutory-confirmation discipline as the rest of the suite.
See It In Action
Enrolments at a glance — terms, match and status
The payslip's Pension tab — per-plan split, employer match, shortfall
Monthly remittance — every provider's money, reconciled to the cent
The plan file — provider, BIR approval and its own accounts
VedTech Solutions
Developed and maintained by VedTech Solutions — vedtechsolutions.com
Missing a feature your pension administration needs — a provider format, a match rule, a report? Tell us at support@vedtechsolutions.com. The suite grows from real Trinidad & Tobago payroll requirements.
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Employees (hr)
• Invoicing (account) • Time Off (hr_holidays) • Discuss (mail) • Calendar (calendar) |
| Community Apps Dependencies | Show |
| Lines of code | 8636 |
| Technical Name |
vedtech_tt_pension |
| License | OPL-1 |
| Website | https://www.vedtechsolutions.com |
Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
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