Employerset-up guideHow to get startedwith NEST
02 03 What’s inside? Thank you for considering NEST This guide sets out: NEST is a workplace pension scheme that will be available to all employers to meet their new legal duties. It’s easy to 01 How to get started use and designed to meet the needs of you and your workers. Contact us to get started with NEST Plan your timeline This guide will help you get started with NEST. When you go online to sign up to NEST at www.nestpensions.org.uk 02 How to sign up you’ll be given detailed guidance on each of the steps to Sign up online setting up your account. Set up a payment schedule NEST’s main features Choose who you want to manage your account It’s easy to use with: It’s designed for workers with: 03 How to set up your workers online set up and administration an investment approach designed Use the Employer toolkit clear communications speciﬁcally for our members, using high-quality fund managers Enrol your workers no ongoing administration when a member leaves your employment a commitment to helping your workers with their options when 04 How to make payments low member charges they come to take their money Prepare your ﬁrst contribution schedule out of NEST. ﬂexibility on the way you calculate Make your ﬁrst payment contributions within our total annual limit of £4,200* a year for each member. Beneﬁts of choosing NEST now We give you: help to understand what action ﬂexibility over the date you start you need to take to comply with using NEST your employer duties the option to enrol workers in dedicated support from our stages and avoid doing so in Market Engagement Team one go, which you will have to assistance as you set up your do when employer duties start. account and enrol your workers This level of support may not be administrative support to available after October 2012, when integrate NEST with your HR we expect an increase in volumes of We use the term NEST to refer to the scheme’s legal name, the National Employment or payroll system employers signing up to use NEST. Savings Trust. We sometimes also use it to refer to the scheme’s trustee, the National Employment Savings Trust Corporation. * This is the annual contribution limit for the 2011/12 tax year. This ﬁgure will be adjusted in line with average earnings.
04 01 02 05 How to get started How to sign up Contact us to get started Plan your timeline Sign up online Set up a payment schedule Choose who you want to with NEST manage your account If you want to get started soon you The ﬁrst step is to sign up online. Your payment schedule sets out the NEST is open for business. Before need to agree with us the month Once we have activated your account contributions you and your workers You can give other people access you begin the sign-up process you’ll start using NEST. you can enter some details about have committed to pay and the date to your account if, for example, you contact us on 030 0303 1949 your organisation. You will need to you will pay these to NEST. would like someone else to deal with We have put together a template tell us: NEST on your behalf. This is known or email employer.enquiries @ project plan you can use to help The way you set your payment nestpensions.org.uk to discuss as delegating access to your account. you plan the steps you need to take the legal name of your organisation schedule is ﬂexible allowing you to: the best time to start using NEST. to get started. You could delegate access to your organisation’s business address set up a single group of workers We can only take a limited number someone from within your It includes the steps covered in and PAYE reference that will be given the same level of employers before your new legal organisation, such as a colleague this brochure and the other tasks the number of workers you employ of contributions duties that start to be introduced in HR or payroll, or from outside you may need to carry out. split workers into more than one your organisation, such as your from 2012. contact details of a main contact Contact us on 030 0303 1949 or and any additional contacts group, allowing you to provide accountant, ﬁnancial adviser or To help you decide if NEST is the employer.enquiries@nestpensions. different contributions for different payroll provider. right choice for you now, we will your organisation’s bank details groups or grades of workers org.uk to request a copy. You can give different people be happy to explain: including account name, number and sort code. use NEST to meet the minimum different levels of access to your the features of NEST legal requirements that start to be account. You will also need to conﬁrm that introduced from 2012, or use it to what it means for you and you accept the Employer Terms pay in more than the minimum your workers Delegate would have the ability and Conditions. If you want to go the advantages of using through these in advance they are choose to pay your contributions to carry out all tasks on your NEST now. available on the employer section weekly, four weekly or monthly. behalf and view all records. of our website. You can make changes to your payment schedule easily. someone the ability to read Contributions must be above the your account’s records but not legal minimum required and below change them. This role is known the maximum NEST allows. as a Read-only Delegate. You can decide to delegate access to your account to one or more people either as you set up your account, or later when your account is up and running.
06 03 04 07 How to set up your workers How to make paymentsUse the Employer toolkit The toolkit includes: There are three ways to enrol Preparing your ﬁrst Make your ﬁrstBefore your workers can join NEST, an easy-to-understand overview your workers. We give you speciﬁc contribution schedule paymentyou will need to give them some of NEST guidance on each of the options Processing contributions is likely to be After submitting your contributioninformation about the scheme. available when you set up your the task you perform most regularly. schedule, you can either: a form to show your workers what account. The choices are:We provide an Employer toolkit to your contribution is and what they Our systems have been designed tomake it easy for you to give your will contribute Option one make this process straightforward.workers this information. an acceptance form for each worker You need to prepare your contribution pay using Direct Debit, which you enrol to conﬁrm they accept schedule detailing all the actual allows us to collect contributions your contribution and authorise contributions made in each pay automatically their own contributions to be paid You can enter your workers’ details period – this period could be weekly, out of their earnings. manually online. four weekly or monthly. credit debit How long it takes to communicate Option two You should include an entry for each with your workers and reach member you have enrolled with: pay by Direct Credit or debit card, agreement will depend on your the name of the worker, their which means you will need to organisation. You should bear this National Insurance number or process payments manually online. in mind when building your plan. You can upload a spreadsheet ﬁle a unique employee reference Cleared funds must be with NEST by Enrol your workers with the relevant information using number if they have one the 19th of the month following the our template. the worker’s earnings in the payroll deductions. To enrol workers into NEST, you need to give us information about them Option three pay period including: the amount of contributions personal details for each worker both you as the employer and including their name, address, date the worker themselves pay of birth, National Insurance number You can download data from your into their retirement pot. and email address if you have it payroll system and provide this to You can submit your contribution details of any workers who are NEST through a secure ﬁle transfer. schedule by entering it manually, not eligible to receive tax relief uploading a ﬁle or through a secure on their contributions ﬁle transfer. We will work with you to make sure your ﬁle is in the right conﬁrmation that each worker format and will upload successfully. knows they are being enrolled into NEST the worker group each individual belongs to if you have more than one group of workers, for example with different contribution levels the date each worker will be enrolled.