Workplace Pension

By law you can postpone workplace pension compliance and start after 3 tax months.

This seems a prudent action, giving you time to assess the suitability of your new employee.

Important points to consider regarding your workplace pension statutory compliance.

1. Nannywage Ltd enclose a full workplace pension guide, with your first wageslip. For your new employee, we enclose full workplace pension information, as per compliance required by The Pension Regulator.
2. We enclose our workplace pension form with your first wageslip and guarantee it will take less than one minute to complete. Then you need take no further action. We set up your workplace pension scheme. We then handle all workplace pension administration on your behalf. We file your workplace pension contribution reports each pay frequency with NEST pension.
3. We guarantee your workplace pension compliance with The Pension Regulator by completing your Declaration of Compliance.
4. We process all of your ongoing workplace pension compliance and workplace pension administration.
5. If you do not require a workplace pension, as no qualifying or opt-in employees, as a registered HMRC employer, you must still complete, The Pension Regulator Declaration of Compliance. You need take no action. Nannywage Ltd do this on your behalf FREE of CHARGE. We believe we are the only company in the UK offering this service. Many other Payroll providers charge upwards of £75 for this service.

We ensure your workplace pension compliance by being in contact with you during the 3 months’ postponement period from employment start date to workplace pension set up. We can set up the workplace pension before the 3 months’ postponement date just complete the workplace pension form included in the pension guide with your instructions.

Monthly payroll pension service is £67 per year per employee

Monthly payroll pension service is £78 per year per employee

All workplace pension service prices include VAT

Automatic Workplace Pension Enrolment is a requirement for every UK HMRC registered employer, to provide the facility of a workplace pension for their employees and automatically enrol them into your workplace pension if they qualify or enrol them if they choose to opt-in.

The employee automatically qualifies

1. The employee is aged 22 – retirement age at employment start date.
2. The employee Gross salary is more than £833 gross per month, or £192 gross per week.

Employment start date

This is your workplace pension compliance duties start date.

Qualifying employees

Must be enrolled into your workplace pension within 3 tax months from employment start date.

If your non-qualifying employee does not wish to opt-in

You do not need to set up a workplace pension.

You are still required to complete The Pension Regulator Declaration of Compliance. Nannywage Ltd completes The Declaration of Compliance for you free of charge.

You need take no action.

Non – qualifying employees, who wish to opt-in

Employees, who do not meet the minimum qualifying salary and / or age criteria, can choose to opt into your workplace pension. If they earn below current earnings threshold, you, the employer, does not have to contribute towards their pension and only the employee makes pension contributions.

Declaration of Compliance

The Pension Regulator requires the status of your workplace pension compliance, regardless of the qualifying status of any employee. They achieve this by the completion of the Declaration of Compliance, which informs them of exactly your workplace pension status.

The Declaration of Compliance must be filed within 5 months of HMRC registration start date. The Pension Regulator will severely fine for failure to complete any compliance on time. The Pension Regulator will send you reminders regarding your workplace pension compliance, Please ensure you e-mail us a copy of all correspondence received from The Pension Regulator we can then handle all pension compliance & administration for you.

Nannywage Ltd guarantees to complete your Declaration of Compliance with The Pension Regulator free of charge.

You need take no action.

The Declaration of Compliance must be re-filed with The Pension Regulator every 3 years, which Nannywage Ltd pensions complete on your behalf as a Re-Declaration of Compliance.

Nannywage Ltd off-set any workplace pension compliance work for non – qualifying employees against your payroll account, deducting the free 3 months of payroll service we offered, of 15 months for the price of 12. At the start of your second year of payroll subscription, we will offer you the opportunity to add a further 3 months free to your payroll service, ensuring that you are offered our 15 months for the price of 12 payroll service and are fully compliant with workplace pensions and will not be fined by The Pension Regulator.

If you choose Nannywage Ltd Pensions to set up and administer your NEST workplace pension and The Pension Regulator compliance on your behalf, you must take no set up action and allow Nannywage Ltd pensions to set up on your behalf, under our super delegate association with NEST. If you have set up a pension with NEST or another scheme, you must contact us immediately.

Nannywage Ltd pensions must process the minimum contribution compliance amounts as required each tax year by HMRC & The Pension Regulator, should your pension contribution instructions not meet current compliance requirements we will contact you to implement contribution compliance amendments. Please note. If you or your employee, wish to contribute a higher percentage of salary or change to a higher fixed monetary amount than the current Automatic Enrolment minimum percentage contributions. You must either e-mail Nannywage Ltd with your exact contribution instructions or enter on the workplace pension form.

By law we are unable to give you advice or guidance regarding your choice of pension provider. However, whichever pension provider you choose to use, it should be remembered that the minimum contribution percentages are the same for all Automatic Enrolment workplace pension schemes.

Nannywage Ltd only process qualifying earnings to calculate contributions for employer and employee, which is the standard way to calculate the legal minimum contributions.

Nannywage Ltd only process a workplace pension scheme for payroll & compliance purposes, if you or your employees require any workplace pension financial advice, please contact a financial advisor.

You must set up a workplace pension scheme, for your qualifying workers to have the opportunity of joining a workplace pension scheme. There are many variable options for your employees.

Your employee qualifies through age & earnings – must be enrolled in a workplace pension scheme.

Your employee may wish to opt-out – but must be enrolled into your workplace pension scheme for compliance purposes, then contact Nannywage Ltd via e-mail requesting opt-out

Your employee may not qualify but may choose to opt-in and must be enrolled into your workplace pension scheme.

Your employee may not qualify and not wish to opt-in. You still need to assess the worker every payday and file a Declaration of Compliance with The Pension Regulator.

Workplace pension compliance requires an employer to have a workplace pension scheme in place, for your qualifying employees to be able to make any choices they wish, regarding their future workplace pension and the opportunity for non-qualifying employees to opt-in.

All pension providers take contributions from your bank account automatically each pay frequency, by direct debit & will take the contributions for you and your employee from your bank account only, as it must be remembered that you are deducting the employee contribution at source from their pay and then paying the amount into their workplace pension on their behalf.

We set up a direct payment mandate for you between your bank and NEST pensions.

We will require your full bank details on our workplace pension form.

The Pension Regulator must be informed you are no longer an employer for the purpose of workplace pension, or you will miss the re-declaration deadlines and face large fines. This closing service is included in our workplace pension service to you.

Please note if you set up and administer your own workplace pension scheme, Nannywage Ltd still require a workplace pension service subscription to process workplace pensionable payroll and assessment for qualifying or opt-in employees.

If you choose a pension provider other than NEST, then we can provide payroll inclusive of pension contributions, subject to our pension service subscription, however, you will be responsible for all administration of your chosen workplace pension scheme.

If you use our Nannywage Ltd pension platform to complete The Declaration of Compliance yourself, we double check your entries on the Declaration and if required correct, or complete any blank sections. As the pension platform is in our name, any Declaration of Compliance submitted on our platform is subject to our 3 months’ payroll subscription deduction.