Pensions

Instructing Pay-Nex to act on your behalf removes the weight of responsibility associated with auto enrolment. Our bespoke systems and robust checking processes combine seamlessly with the requirements of The Pensions Regulator, allowing you to spend more time doing what you do best, running your company.

Compliance

Automatic Enrolment, which is overseen by The Pension Regulator places certain responsibilities upon employers to enrol employees into a work-based pension scheme.

As you would imagine, strict legislation has been set in place to ensure conformity and in order to comply with regulations, certain procedures must be followed. Here at Pay-Nex we are specialists in arranging and operating automatic enrolment schemes on behalf of client companies of all sizes, from a few employees to hundreds.

Our clients rely on us to deliver a service that is both fully managed and compliant.

Assessment of Employees

If your business has a workforce made up of salaried staff, the process of assessment is a relatively straightforward task. For many businesses though, the job of identifying ‘eligible job holders’ is often far more onerous for all but the most experienced.

Our assessment process, is as comprehensive and thorough as you would imagine from a team experienced in all aspects of payroll provision and the arrangement of successful auto enrolment schemes.

Setting up your Scheme

Many employers see auto enrolment as a wonderful opportunity to positively engage with their workforce, the provision of a work based pension is after all, something that every employee should be excited about and involved in.

The key to a successful scheme is communication and at every step, Pay-Nex keeps you and your employees completely in touch with developments and involved with the process.

As an employer, you will of course have certain key responsibilities and we provide all the support and advice that you need to make sure you are fully compliant, not just with set up but also meeting your ongoing responsibilities.

Our service does not end with the completion and presentation of your Declaration of Compliance, in fact in many ways this is where it begins, we work closely with for The Pension Regulator, the process is far simpler when you have a proven track record of doing the job the right way.

Declarations and Re-Declarations of Compliance

Once a new pension scheme has been set up and the employees enrolled, we ensure that the Declaration of Compliance is completed and submitted to The Pension Regulator within the time window.  Every 3 years, re-enrolment has to be run and we complete this automatically on behalf of our clients and prepare and submit the Re-Declaration of Compliance for our clients.  Delays in the submissions of these returns can result in hefty fines being issued, but our automated system, informs us when the deadlines are approaching.

Uploading of contributions

Each time pension contributions are deducted from employees in a pay run, the information has to be uploaded to the pension provider’s portal.  This upload is carried out seamlessly from our payroll software which eliminates the risk of errors and ensures that the contributions are uploaded in the correct time-frame.

Dealing with The Pension Regulator

As mentioned earlier, we work closely with The Pension Regulator and we enjoy a strong working relationship with the people responsible for ‘all matters auto enrolment’.

Like all Government departments, particularly those concerned with financial matters, there is a firmly established way of presenting information and what may seem like a deliberately confusing way of communicating, almost like a language all of its own.

In truth, the system is designed to work for everybody and in employing such strict rules, The Pension Regulator is ensuring that there is little or no room for misunderstanding or misinterpretation.

Our work with payroll and experience with auto enrolment places us in a privileged position of having a deep understanding of the way that the system works, and to let you into a little secret…we absolutely love it.

Dealing with the Pension Providers

We set up qualifying pension schemes with all the major pension scheme providers and have direct contact with them on a regular basis ensuring that the schemes are set up with the correct parameters.  We can also take over salary sacrifice schemes and make sure that the payroll reflects the benefits of this type of scheme.  These relationships ensure that when there are any queries we are able to direct the enquiry to the right adviser and we can then report back to our clients in an efficient and timely way.

Mike Brown , Managing Director ~ Crystal Clear Financial Services

The service is second to none and I would recommend that anyone who employees staff do the most logical thing and outsource it to Dena and her team as the professionalism and also cost of such a service makes it a complete no-brainer.