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MINIMUM CONTRIBUTIONS









SET UP YOUR PENSION SCHEME


We recommend NEST (National Employment Savings Trust)


When will I need to set up my NEST scheme?

Between 2012 and 2018, every employer in the UK will need to have a workplace pension scheme in place. Many workers will need to be auto enrolled while others will need to be enrolled if they request it.


To know when you need to be ready to comply with the new duties the first things you’ll need to do is find out your staging date. Please see The Pensions Regulator (TPR) website for more information on your staging date. This is the date the duties apply to your organisation. TPR recommends preparing for your duties 12 months before this date, though this will vary depending on your individual circumstances. Not all employers will need to allow this much time. If you need extra time to prepare you can use a waiting period to delay the date you need to automatically enrol your workers. For more information please see Can I delay auto enrolment?


You’ll need to make sure you’re ready to manage your scheme by keeping track of who needs to be auto enrolled and being ready to make regular contributions for them.


We’ve created our scheme based on an in-depth understanding of the new duties and guidance from The Pensions Regulator (TPR) and the Department for Work and Pensions (DWP) on what a high-quality automatic enrolment scheme should do.


How do I use NEST for auto enrolment?

The first thing you’ll need to do is sign up for a NEST account via the NEST website.


You’ll need to create your own personal login including a username and password.


Once you have your employer login you're able to start setting up your scheme. For more detail on how to do this please see Signing up for a NEST account. You may also find it helpful to use the form Information needed to set up NEST (PDF) to gather all the information you need in one place.


When you set up with NEST you'll need to tell them about your organisation, how you plan to calculate contributions and when you'll pay them to NEST.


When you reach your staging date, you’ll need to assess your workers and tell them about their new pension rights. You may wish to use the NEST templates to help you send out the right information to your workers. Once you've assessed your workers and sent them information you'll need to enrol all eligible workers into NEST. You'll need to provide contribution information and enrol any new eligible workers each pay period, also known as an earnings period. Our system lets you tell us if someone doesn’t have a contribution for a particular period or leaves your company.


You can use a waiting period to delay the date you need to automatically enrol your workers into NEST. If you decide to use a waiting period then you'll need to let your workers know. For more information please see Can I delay auto enrolment?


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Employee

Employer

Government

Total

Now till March 2018

0.8%

1%

.2%

2%

April 2018 to March 2019

2.4%

2%

.6%

5%

April 2019 onwards

4%

3%

1%

8%