Auto-Enrolment is one of the biggest ever burdens to hit small employers. The good news is that we are here to help!

Please view and download our pension auto enrolment guide for you to review. This will hopefully give you the background of what is involved with auto-enrolment.

Pension Auto Enrolment

Firstly, we need to decide which pension provider you wish to go with. We have a number of options available to you:

  • Bespoke Pension Scheme – this can be setup with our partner company, Rushtons Financial Management. They can setup the scheme with a main-stream pension provider and offer specific fund investment advice.
  • Winckley’s low-cost NEST scheme – our lowest cost, compliant scheme is with NEST (nestpensions.org.uk). More details below.
  • Operating a scheme from a provider which you setup.

 

We now have over 3 years’ experience in setting up and operating NEST pension schemes. Although we can offer no advice on how your employees investments will perform, or in which funds they will be invested in (all NEST monies go into a default fund), we have found that NEST is the simplest and most cost-effective to administer. NEST was setup by the Government specifically for auto-enrolment.

Winckley Standard NEST Setup

If you were to decide to go with us to setup your NEST scheme, we have designed our offering to make it as simple for the employer as possible. All you would need to do is agree the parameters of the scheme with us and distribute the statutory letter to your employees. You can leave the rest to us!

Our standard package includes:

  • Registration at NEST following discussions with you about contribution levels and qualifying earnings.
  • Statutory letters to employees (both pre Staging date and then at Staging date)
  • Assessment of workforce.
  • Setup of applicable employees on NEST (NEST then send welcome packs to employees).
  • Compliance declaration at The Pension Regulator (3 months after staging)

 

We will also need to give you as the employer a NEST login and we will ask you to sign the direct debit mandate so that NEST can take their contributions by this method. Please contact us for our one-off costs depending on the size of your payroll. If you wish to go ahead, please contact me and we will send you a registration form so that we can discuss the parameters of your scheme.

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Once the scheme is up and running, for us to submit the contributions file to NEST and for ongoing starters and leavers, there is a very small additional charge to cover this extra administration. If you have no employees in the scheme, then this charge will not apply.