HOW AUTO ENROLMENT FOR EMPLOYERS WORKS

AND HOW NURTURE MAKES IT EASY FOR YOU

Fast and Flexible

Assessment Report in Minutes

Fully Compliant – Same Day

Low Management Costs

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WHAT DO I HAVE TO DO AS AN EMPLOYER?


In 2015 companies with 58 or fewer employees are legally obliged to Auto Enrol their employees into a workplace pension scheme. You must:

  • Enrol all eligible employees into a compliant workplace pension scheme
  • Collect your employee’s monthly pension contributions
  • Inform your employees about how workplace pensions work

There is no avoiding this. You must make sure you have the necessary pension and communication technology in place, and meet the legislative standards – or you could be fined between £50 and £10,000 per day by the Pensions Regulator.

The date you need to Auto Enrol by depends on the number of PAYE employees you have.

Naturally you are unlikely to want to, or be able to, set up and run your own pension scheme. That’s where Nurture comes in.

Our simple, low cost, online auto enrolment pension service provides the ideal solution for you and your employees – set it up and be compliant on the same day.

WHICH OF MY EMPLOYEES ARE ELIGIBLE?


The Auto Enrolment pensions applies to all PAYE employees who are:

 

  • Aged between 22 & state pension age
  • Earning more than £10,000 a year
  • Working in the UK

Your deadline, or “staging date” for Auto Enrolment depends on the number of PAYE employees you have as at 1st April 2012. See the diagram below for your ‘staging date.’

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WHEN DO I HAVE TO AUTO ENROL?


 

WHY NURTURE FOR AUTO ENROLMENT?

WHY NURTURE FOR WORKPLACE PENSIONS?



  • Easy set up

  • Fully compliant

  • Low cost

  • User friendly account management

Nurture provide a complete software service solution for employers who are setting up an Auto Enrolment pension scheme. We make it easy for employers to set up and manage workplace pensions, and ensure that they comply with all the regulations.

  • Low 0.59% annual Pension Administration Fee

  • Low 1% contribution charge

  • The combined effect of these costs is within the Government’s charging cap of 0.75%

With Nurture you have access to a leading pension fund offering great value. Nurture are backed and run by a highly skilled team of professionals who have been operating in the UK pensions market for 30 years.

HOW MUCH DOES NURTURE AUTO ENROLMENT COST?


With Nurture you pay a straightforward, low fee of:

5pounds

Minimum fee £10 + VAT / monthly. Fee capped at 20 employees.

NO set-up fees

NO minimum number of employees per scheme

NO unnecessary minimum contribution levels

NO hidden consultancy fees

 

There are no hidden or extra costs. It’s as simple as that. Just a fair minimum fee of £10 per month for up to two employees, then £5 for each additional employee – capped at a maximum monthly spend of £100, whether for 20 or 5,000 employees.

 

You don’t need to wait to sign up; start now and you won’t start paying until your staging date arrives.

THE NURTURE AUTO ENROLMENT PENSION


Nurture, who are backed by one of the UK’s leading specialist pension providers and administrators, have developed a complete solution for all your Auto Enrolment workplace pension requirements. It’s a simple online ‘do it yourself’ pension system with built in compliance reporting. Key features include:
Operating the system yourself is simple but we also have a UK Based Call Centre on hand should you need some help. Nurture are with you every step of the way, with all the service and support you need.
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WHO ARE NURTURE, AND WHY ARE THEY GOOD FOR ME?


Nurture provide a complete software service solution for employers who are setting up an Auto Enrolment scheme. We make it easy for employers to set up and manage a workplace pension and ensure that they will comply with all the regulations.

 

All pension schemes charge a management fee to the scheme who will receive the pension. There has been much publicity about these fees being excessive – at Nurture we believe that fees should be fair and clear, kept to the minimum and have no hidden charges.

Frequently Asked Questions for Employers


What Pension Fund Are My Company And My Employees Paying Into?
Payments will go into The ‘SSgA MPF Balanced Index Fund’, Nurture’s carefully selected default fund operated by State Street Global Advisers. State Street Global Advisers (SSgA) is the world’s second largest fund manager, managing around £2Tn of assets for individuals, corporations, institutions, charities, and Government Bodies.  The Managed Pension Fund range consists of over £34Bn of assets managed for UK pension funds for company pension schemes sponsored by many large employers.  The Managed Pension Fund range of funds aim to provide access to a wide range of investment markets with very low tracking error, replicating as far as possible the experience of being invested directly in the market.  The Balanced Index fund of funds combines a number of underlying funds cost effectively and efficiently, aiming to capture market returns at a risk level appropriate for a long-term investor. A valuation of your pension can be obtained via your account 24/7. More information on the fund can be found on the SSgA MPF Balanced Index Fund fact sheet via the portal or through the Nurture Investment Guide.
What Shouldn’t I Do?
Encourage anyone to opt out of the pension scheme or base your recruitment process around people willing to opt out.
What Should I Do Now?
If you run your own payroll ‘in-house’, talk to Nurture. If your payroll is run by an agent, find out if the agent will be providing any Auto Enrolment Support – and whether they have contacted Nurture. If not, ask them to call us on 0800 080 39 39
Do I Have To Register With ‘The Pensions Regulator’?
Yes, employers MUST register with The Pension Regulator to confirm they have complied with Auto Enrolment.
What Do My Fees Pay For?
The £5 + vat per employee per month fee covers all the set-up and implementation for the Nurture system including ongoing support. These fees do not cover your actual pension contributions.
What Pension Contributions Do I Need To Make?

Both you and your qualifying employees will contribute to the employee’s pension pot.

 

Employers Employee Minimum Contributions
Up to April 5th 2018 1% 1% 2%
From April 6th 2018 2% 3% 5%
From April 6th 2019 3% 5% 8%

These contributions are based on the bare minimum employer contributions, but so long as the ‘Minimum Contributions’ are met, the amount going into the pension will be enough. For example, the minimum employer contribution up to 5th April 2018 is 1% and the minimum total contributions are 2%, so the employer can choose to contribute the whole 2% and the employee to contribute 0%. These percentages and dates could be subject to change.

What If I Have An Existing Pension Scheme?
You must check with your existing pension provider if that it is a qualifying scheme. For any existing scheme to qualify, the contributions paid by both the employee and employer at least match the minimum contributions specified for Auto Enrolment.
Why is Auto Enrolment Being Introduced?
Currently the state pension system and the present voluntary system of private pension saving has been found to be not fit for purpose, resulting in pension provision situation which is increasingly inadequate and unequal. Auto Enrolment pensions are being introduced to address this.

WHAT OUR CUSTOMERS ARE SAYING

Quick set up and simple to manage ” We started to use Nurture Pensions from the minute we discovered them, we found it very easy to use and comprehensive. Their support has been amazing and we are putting on a number of companies every week. We have been approached by other providers but there is no way we are moving, we found the best solution for us the first time around. “ Rachel Wilkin

Payroll & CIS Manager, Robert Lewis Accountants