WHAT DOES IT COST?

AUTO ENROLMENT FEES ARE STRAIGHTFORWARD WITH NURTURE

If your staging date is before October 2018 then you can phase-in contributions:-

Employers

Employee

Minimum

Contributions

Up to *05/04/18

1%

1%

2%

From *06/04/18 — *05/04/19

2%

3%

5%

From *06/04/19 onwards

3%

5%

8%

*The proposed dates are subject to Parliament approval

TAX RELIEF

Both the employer and employee will benefit from making pension contributions from corporation tax or income tax respectively.

SALARY SACRIFICE?

Should pension contributions be made via salary sacrifice then both the employer and employee will benefit from savings to National Insurance contributions. Please note: Salary sacrifice may not be suitable for low earners and are not enabled as standard.

NURTURE PENSIONS SOFTWARE

Our software costs just £5 + VAT per employee per month to manage your Auto Enrolment pension obligations. There are no set-up fees or hidden consultancy fees.

The minimum software fee is £10 + VAT per month (a two person scheme) and is capped at 20 employees or £100 + VAT per month no matter how many employees over 20 you have.

NURTURE AUTO ENROLMENT PENSION

If you choose to use our pension service, a 1% contribution charge plus a low 0.59% annual Pension Administration Fee applies. The combined effect of these costs is within the government’s charging cap of 0.75% For example, if your existing retirement fund is worth £10,000 the annual pension administration fee would total £59 and if £500 of payments were paid into your fund over the year the contribution charge would total £5. The total cost to you for the year would be £64 which would equate to an overall annual management charge (AMC) of 0.64% of the value of your retirement fund.