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We have a nanny and being an employee we've enrolled her on ther NEST pension scheme.
I've just found out that I need to manually make payments every single month; there is no automation feature that collects the same amount each month until further notice.
At least this is what I understand based on my dealings with them so far. But that seems ludicrous; I know I'm going to be late at some point with just one employee; how is a company with say 1000 employees going to manage that?
I must have misunderstood something so if anyone else is using it, what is your understanding of the monthly process?
Our payroll company manages it for us - goes out in the same BACS run as salaries.
We use Nest,up to noweverything has run easily and smoothly
I need to manually make payments every single month; there is no automation
Surely paying pension contributions is an extension of the payroll process since the contribution is most likely linked to salary?
Have you set up a Direct Debit, so NEST can take the payment without you making a transfer?
You will need to log-in to the NEST website regularly, to notify them of the salary. But that will simply be a matter of copying the last paid schedule.
You should be able to deal with two months at a time, I think. So that will take you approx 6 minutes a year.
If you're late completing this task, they will email a reminder to you.
I've just found out that I need to manually make payments every single month; there is no automation feature that collects the same amount each month until further notice.
Surely paying pension contributions is an extension of the payroll process since the contribution is most likely linked to salary?
This, basically. It's a payment you're giving them, not one they're taking. It's kind of like expecting your nanny to ask you for her salary each month, rather than you automatically paying it.
Just set up a standing order.
Surely paying pension contributions is an extension of the payroll process since the contribution is most likely linked to salary?
This. The idea is that you output a .csv file from your payroll system and upload to NEST.
A lot of low paid employees (which NEST specifically targets as the default pension scheme) will have variable earnings from pay period to pay period, so there usually won't be a standing amount.
Out of interest, why did you go with NEST?
So it turns out that the pay roll company we use does indeed maange the payment for us, which is really good.
Esme yes it would be a very small amount of time to spend doing it, that wasn't my issue. I was just aware that i'd forget in the mele of life!
Simon, I went with Nest because that's the organisation that the payroll company suggested. Tell me now I did the right thing.....